On an afternoon that a class meets, you could alternatively study for an exam that will take place in another class the next morning, go to a movie with a friend, or, most desirable to you at present, take a nap. The opportunity cost of attending the afternoon class is
A) forgoing the nap.
B) missing seeing the movie with your friend.
C) giving up the time to study for the next morning's exam.
D) being unable to engage in all three of the above activities.

Question

Quizplus · Accepted Answer

The opportunity cost of attending the afternoon class is the forgone benefit of taking a nap. This means that if you choose to attend the class, you will have to give up the benefit of taking a nap, which was your most desirable choice at the present moment. The other options (studying for the exam or going to a movie with a friend) are also alternatives but they do not represent the opportunity cost of attending the class.

On an Afternoon That a Class Meets, You Could Alternatively