You decide to spend Thanksgiving with your grandparents instead of going to Las Vegas with 20 of your closest friends. Losing the chance to be with your friends is the ________ cost of spending Thanksgiving with your grandparents.

Question

Quizplus · Accepted Answer

The correct answer is implicit cost, which refers to the opportunity cost that occurs when a choice is made over another, in this case, the opportunity cost of not going to Las Vegas with friends.

You Decide to Spend Thanksgiving with Your Grandparents Instead of Going