A student has a chance to see Taylor Swift in concert. The student also has a major economics exam in the morning. If the student goes to the concert:
A)she may receive a lower grade on the economics exam.
B)the opportunity cost of the concert includes the value of the time that would otherwise have been spent studying.
C)the decision involves a tradeoff.
D)all of the above are correct.

Question

A student has a chance to see Taylor Swift in concert. The student also has a major economics exam in the morning. If the student goes to the concert:
A)​she may receive a lower grade on the economics exam.
B)​the opportunity cost of the concert includes the value of the time that would otherwise have been spent studying.
C)​the decision involves a tradeoff.
D)​all of the above are correct.

Quizplus · Accepted Answer

All options correctly describe the situation involving a tradeoff, where attending the concert could lead to a lower exam grade, and the opportunity cost includes the value of study time foregone.

A Student Has a Chance to See Taylor Swift in Concert