Trent decides to spend an hour playing basketball rather than studying. His opportunity cost is:
A)nothing because he enjoys playing basketball more than studying.
B)the foregone benefit to his grades from studying for an hour.
C)the increase in skill he obtains from playing basketball for that hour.
D)nothing because he had a free pass into the sports complex to play basketball.

Question

Trent decides to spend an hour playing basketball rather than studying. His opportunity cost is:
A)​nothing because he enjoys playing basketball more than studying.
B)​the foregone benefit to his grades from studying for an hour.
C)​the increase in skill he obtains from playing basketball for that hour.
D)​nothing because he had a free pass into the sports complex to play basketball.

Quizplus · Accepted Answer

Opportunity cost is the value of the next best alternative foregone. In this case, Trent's next best alternative was studying, and thus the opportunity cost of playing basketball is the foregone benefit to his grades from studying for an hour.

Trent Decides to Spend an Hour Playing Basketball Rather Than