Dean decided to play golf rather than prepare for tomorrow's exam in economics. One can infer that:

Question

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The fact that Dean decided to play golf rather than prepare for tomorrow's exam in economics suggests that he believed the economic surplus from playing golf was greater than the surplus from studying. This is known as opportunity cost - the cost of choosing one option is the value of the best alternative option that is forgone. Therefore, we can infer that Dean believed that the opportunity cost of studying (in terms of the forgone enjoyment from playing golf) was greater than the opportunity cost of playing golf (in terms of the forgone benefits from studying).

Dean Decided to Play Golf Rather Than Prepare for Tomorrow's