Exhibit 2-1 Refer to Exhibit 2-1.A student has only a few hours to prepare for two different exams tomorrow morning.The above table shows alternative possible exam outcomes with three alternative uses of the student's time.The opportunity cost of scoring an 84 on the history exam rather than 76 is:

Question

Exhibit 2-1  Refer to Exhibit 2-1.A student has only a few hours to prepare for two different exams tomorrow morning.The above table shows alternative possible exam outcomes with three alternative uses of the student's time.The opportunity cost of scoring an 84 on the history exam rather than 76 is:

Quizplus · Accepted Answer

To find the opportunity cost of scoring an 84 on the history exam rather than 76, we need to look at the difference in economics exam score for these two outcomes. From the table, we see that if the student spends 3 hours studying for economics and 1 hour studying for history, they can score 83 on economics and 76 on history. If the student spends 2 hours studying for economics and 2 hours studying for history, they can score 90 on economics and 76 on history. The difference in economics score between these two outcomes is 7, so the opportunity cost of scoring an 84 on history rather than 76 is 7 points on the economics exam. Therefore, the best choice is option B.