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.
Partying with a close circle of friends.
B.
Taking a much needed course offered by another department.
C.
Accepting work at the mall as a part-time sales associate.
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.
wrong answer
Apologies for the incorrect answer. The correct answer would be C. Accepting work at the mall as a part-time sales associate. This option represents a potential opportunity for earning money, which is an economic benefit, rather than a cost.
No A is the answer
My apologies for the revised response. You are correct. The least likely opportunity cost for a typical student attending a class at 11:00 a.m. would be A. Partying with a close circle of friends. Attending a class would require the student to prioritize their education over socializing and partying with friends.
The opportunity cost of attending a class at 11:00 a.m. refers to the value of the next best alternative that is given up. In this case, the least likely opportunity cost for a typical student 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. This option does not involve any significant trade-off or sacrifice.
To determine which option would least likely be the opportunity cost of attending a class at 11:00 a.m., we need to understand what opportunity cost means. Opportunity cost refers to the value of the next best alternative that is foregone when making a choice. In other words, it is what you give up when you choose one option over another.
Let's evaluate each option:
A. Partying with a close circle of friends:
If a typical student chooses to attend a class at 11:00 a.m., the opportunity cost of this choice could be missing out on partying with friends.
B. Taking a much needed course offered by another department:
If a typical student chooses to attend a class at 11:00 a.m., the opportunity cost of this choice could be missing out on taking a course offered by another department that they need.
C. Accepting work at the mall as a part-time sales associate:
If a typical student chooses to attend a class at 11:00 a.m., the opportunity cost of this choice could be missing out on accepting work at the mall as a part-time sales associate.
D. Getting the "jump" on most students by getting to the dining hall for lunch before the mid-day rush:
If a typical student chooses to attend a class at 11:00 a.m., the opportunity cost of this choice could be missing out on getting to the dining hall early to avoid the mid-day rush.
Based on the options given, the least likely opportunity cost for a typical student 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. This is because the value of getting to the dining hall early might not be significant compared to the other options like partying with friends, taking a needed course, or accepting part-time work.