In the 2 hours between classes a student can do one of three things, ranking them from most to least desirable as: (1) chat with friends, (2) study economics, or (3) eat lunch. This student's opportunity cost of chatting with friends is:

Question

Quizplus · Accepted Answer

The opportunity cost of an activity is the value of the next best alternative foregone. In this case, the next best alternative to chatting with friends is studying economics.

In the 2 Hours Between Classes a Student Can Do