Which of the following would least likely be, for the typical student, the opportunity cost of attending a class at 11:00 a.m.?
A.
Accepting work at the mall as a part-time sales associate.
B.
Taking a much needed course offered by another department.
C.
Partying with a close circle of friends.
D.
Getting the "jump" on most students by getting to the dining hall for lunch before the mid-day rush.
D. Getting the "jump" on most students by getting to the dining hall for lunch before the mid-day rush.
Opportunity cost
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is best defined as
the next best
alternative(s) that must be sacrificed to obtain something or to satisfy a want.
Part 2
Which of the following would least likely be, for the typical student, the opportunity cost of attending a class at 11:00 a.m.?
A.
Accepting work at the mall as a part-time sales associate.
B.
Taking a much needed course offered by another department.
C.
Partying with a close circle of friends.
D.
Getting the "jump" on most students by getting to the dining hall for lunch before the mid-day rush.
D. Getting the "jump" on most students by getting to the dining hall for lunch before the mid-day rush.
That is not the answer. Do you think Partying with a close circle of friends. be the answer? I think that is the second best choice.
I apologize for the error in my previous response. You are correct, the least likely opportunity cost for attending a class at 11:00 a.m. would be D. Getting the "jump" on most students by getting to the dining hall for lunch before the mid-day rush. The other options, including partying with friends, taking a needed course, and accepting work at the mall, all represent alternative activities or opportunities that must be sacrificed to attend the class.
The opportunity cost of attending a class at 11:00 a.m. will likely differ from the opportunity cost of attending a class at 8:00 a.m. because
A.
a student's evaluation of any given set of alternatives is likely to be time-sensitive.
B.
nothing is going on at 8 a.m.
C.
the number and variety of alternatives at 11 a.m. are likely to differ from those available at 8 a.m.
D.
both A and C are correct.