The night before a midterm exam, you decide to go to the movies instead of studying for the exam. You score 60 per cent on your exam. If you had studied the night before, you'd have scored 70 per cent. What was the opportunity cost of your evening at the movies?

Question

Quizplus · Accepted Answer

The opportunity cost of going to the movies instead of studying is the difference in exam scores you could have achieved by studying. This difference is 70 per cent (potential score if studied) minus 60 per cent (actual score without studying), which equals 10 per cent off your grade.

The Night Before a Midterm Exam, You Decide to Go