You have chosen to take a trip during spring break. If you had not gone, you would either have worked at a temporary job or studied for exams. The opportunity cost of your trip is
A)the wages you would have earned from working.
B)the value of the trip.
C)the wages you would have earned from working and the lower grade earned by not studying.
D)the lower grade earned by not studying.
E)We cannot determine what the opportunity cost is without knowing which alternative, working or studying, you would have preferred.

Question

Quizplus · Accepted Answer

The Answer of You have chosen to take a trip during spring break. If you had not gone, you would either have worked at a temporary job or studied for exams. The opportunity cost of your trip is
A)the wages you would have earned from working.
B)the value of the trip.
C)the wages you would have earned from working and the lower grade earned by not studying.
D)the lower grade earned by not studying.
E)We cannot determine what the opportunity cost is without knowing which alternative, working or studying, you would have preferred.

You Have Chosen to Take a Trip During Spring Break