Katherine has a physics exam tomorrow.However,a free lecture by one of her favorite authors is taking place this evening.Katherine decides to attend the lecture instead of studying for her exam.Katherine's opportunity cost of attending the lecture is:
A)the time spent listening to the lecture.
B)not relevant since no money is involved.
C)the transportation and time cost of getting to the lecture itself plus the reduction in her physics exam grade as a result of not studying tonight.
D)the time spent getting to the lecture.

Question

Quizplus · Accepted Answer

The opportunity cost of attending the lecture is not just the time spent listening to the lecture, but also the cost of transportation and time to get to the lecture, as well as the potential reduction in Katherine's physics exam grade as a result of not studying tonight. Therefore, the best choice is C.

Katherine Has a Physics Exam Tomorrow