Suppose you take a trip during spring break.To determine the benefit of taking the trip,you
A) calculate the opportunity cost of the trip.
B) measure what you are willing to give up to take the trip.
C) determine the sunk cost of taking the trip.
D) calculate the value of the next best alternative foregone.
E) must measure what the trip is worth to you and then subtract the cost of the trip.

Question

Quizplus · Accepted Answer

The benefit of taking the trip is measured by what you are willing to give up to take it, which reflects the value or utility you derive from the trip.

Suppose You Take a Trip During Spring Break