Which of the following is NOT an example of an opportunity cost?
A) Because Mary is now being paid a higher wage, she can afford to buy a new car even though she is moving into a bigger apartment.
B) By choosing to attend college, Jean was not able to continue working as an electrician; as a result, she gave up more than $85,000 in earnings while she was in college.
C) Because David used all of his vacation time to paint his house, he was unable to visit the Caribbean last year.
D) By spending Thursday night studying for an economics exam, a student was unable to complete a homework assignment for calculus class.
Correct Answer:
Verified
Q102: You have the choice of going to
Q103: After you graduate, you have decided to
Q104: The opportunity cost of attending college includes
Q105: Bill Bonecrusher graduates from college with a
Q106: Fred and Ann are both given free
Q108: The night before a midterm exam, you
Q109: From 8 to 11 p.m., Sam can
Q110: You decide to take a vacation and
Q111: Opportunity cost is defined as the
A) highest-valued
Q112: You have the choice of going on
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents