Solved

You're Trying to Determine Whether to Spend Your Saturday Afternoon

Question 50

Multiple Choice

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:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents