Suppose that you go to a movie and miss your favorite television show. The satisfaction you would have received from the television show is:
A) a money cost of going to the movie.
B) an explicit cost of going to the movie.
C) an opportunity cost of going to the movie.
D) not a cost of going to the movie since you could have stayed home if you wanted.

Question

Quizplus · Accepted Answer

The satisfaction you would have received from watching your favorite television show represents an opportunity cost of going to the movie, as it is the value of the next best alternative foregone by choosing to go to the movie instead.

Suppose That You Go to a Movie and Miss Your