The opportunity cost of taking an on-line history class is
A)the knowledge and enjoyment you receive from taking the class.
B)the value of the time spent on line.
C)equal to the highest value of an alternative use of the time and money spent on the class.
D)zero because there is no classroom time involved if you are enrolled in the course.
E)the cost of tuition and fees only.

Question

Quizplus · Accepted Answer

Opportunity cost refers to the highest value of an alternative use of the time and money spent on a particular activity. While taking an on-line history class, the opportunity cost would be the highest value of an alternative use of the time and money spent on the class, for example, working or taking another course instead. Options A, D, and E do not consider the concept of opportunity cost, and option B only acknowledges the value of time spent but does not consider the value of the potential alternatives. Therefore, the best answer is C.

The Opportunity Cost of Taking an On-Line History Class Is