Joe likes to sleep late in the mornings and play tennis in the afternoons. The opportunity cost of Joe attending his morning class for one hour is

Name: Joe likes to sleep late in the mornings and play tennis in the afternoons. The opportunity cost of Joe attending his morning class for one hour is
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Question

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The opportunity cost is the value of the next best alternative foregone. Since Joe likes to sleep late in the mornings, the opportunity cost of attending a morning class is the hour of sleep he gives up.

Joe Likes to Sleep Late in the Mornings and Play