A test was scheduled for Monday morning, but you went to a party onSaturday night.If you hadn't attended the party, you could have studied forthe test or gone to a movie.Which of the following is true?
A) The opportunity cost of going to the movie is studying for the test.
B) The opportunity cost of going to the party is the movie.
C) The opportunity cost of going to the party is both the movie and the study time.
D) Because you could go to the party only that night but could go to a movie any time, the opportunity cost
Of the party is the study time.
E) From the above information, it's not possible to determine the opportunity cost of attending the party.
Correct Answer:
Verified
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