Which of the following is an example of opportunity cost not measured by money cost?
A)The time spent eating a business lunch at a restaurant
B)The time spent preparing a meal eaten at home
C)The time spent studying to obtain an "A" in economics
D)The time spent repairing a car in one's own garage
E)All of the responses are correct.

Question

Quizplus · Accepted Answer

Opportunity cost refers to the value of the next best alternative that is forgone when making a choice. In all the given options (A, B, C, D), the opportunity cost is represented by the time spent on an activity instead of doing something else, which is not directly measured in monetary terms but rather in terms of what else could have been accomplished with that time.

Which of the Following Is an Example of Opportunity Cost