You have an hour between your economics and math classes. What is the opportunity cost of that time if you use it to complete your math homework instead of your economics homework?
A) the economics homework you could have completed
B) the math homework you chose to complete
C) the cost of your calculator and math textbook
D) zero, because it doesn't cost any money to do your math homework

Question

Quizplus · Accepted Answer

The opportunity cost of completing your math homework during the hour between classes is the economics homework that you could have completed instead. By choosing to complete your math homework, you are giving up the potential benefit of completing your economics homework during that time. Therefore, the best choice is to weigh the importance and deadline of each homework assignment and prioritize accordingly.

You Have an Hour Between Your Economics and Math Classes