Amy's opportunity cost of going to the movies is

Question

Quizplus · Accepted Answer

The opportunity cost of an action is defined as the value of the best alternative foregone. Therefore, if Amy chooses to go to the movies, her opportunity cost is not just the price of the ticket, but also the value of the best alternative that she could have chosen to do with her time (such as studying for an exam or spending time with friends). So, the correct answer is C. Choice B is incorrect because while she may not have to pay for the movie with a gift card, there is still an opportunity cost.

Amy's Opportunity Cost of Going to the Movies Is