Moira decides to spend two hours taking a nap rather than attending her classes.Her opportunity cost of napping is
A) the value of the knowledge she would have received had she attended class.
B) the $30 she could have earned if she had worked at her job for those two hours.
C) the value of her nap less the value of attending class.
D) nothing,since she would valued sleep more than attendance at class.

Question

Quizplus · Accepted Answer

Opportunity cost is the value of the next best alternative that must be forgone in order to pursue a certain action. In this case, Moira's next best alternative was attending her classes and gaining knowledge, which has a value. Therefore, her opportunity cost of napping is the value of the knowledge she would have received had she attended class. B is not the correct answer because it is not relevant to Moira's decision to nap instead of going to class. C and D are also incorrect because they do not accurately represent the concept of opportunity cost.

Moira Decides to Spend Two Hours Taking a Nap Rather