The value of an hour of leisure can best be estimated as
A) Zero since no income is earned.
B) The hourly wage that could have been earned.
C) Total recreational expenditures divided by hours of leisure.
D) The value of any productive work, although such a value is lower than what could have been earned. The value of any activity will be at least the value of the opportunity cost. Therefore, the best estimate of the value of an hour of leisure is the hourly wage that could have been earned.

Question

Quizplus · Accepted Answer

The value of an hour of leisure is best estimated as the hourly wage that could have been earned. This is because the value of any activity will be at least the value of the opportunity cost, which is the wages that could have been earned if the time had been spent working instead of on leisure activities.

The Value of an Hour of Leisure Can Best Be