You're trying to determine whether to spend your Saturday afternoon attending a street festival, working to earn $100, or studying for your midterm exam. You really don't want to work, so you flip a coin between attending the street festival and studying. The coin flip determines that you should stay home and study. The opportunity cost of your time spent studying includes:
A) the loss of $100 worth of wages and the joy from going to the street festival.
B) earning a high score on your midterm and thus improving your grade in the class.
C) the benefit that you could have received from attending the street festival.
D) the time you spent deciding and using a coin flip to determine your Saturday afternoon activity.
Correct Answer:
Verified
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