What is the opportunity cost of taking this exam?
A) all of the things that you could have done by not studying
B) each of the questions that you miss on the exam
C) the highest-valued alternative that you gave up to prepare for and attend the exam
D) the money you spent purchasing the textbook and the other materials with which you study
E) the money you spent on tuition

Question

Quizplus · Accepted Answer

The opportunity cost of taking the exam is the highest-valued alternative that you gave up to prepare for and attend the exam. This could include any other activities or opportunities that you could have pursued instead of studying for the exam. Options A, B, D, and E are not accurate descriptions of opportunity cost in this context.

What Is the Opportunity Cost of Taking This Exam