Which of these is the most likely opportunity cost of choosing to play a board game rather than going to the movies?
(1 point)
Responses
being able to visit with friends
being able to visit with friends
spending money on the board game
spending money on the board game
being able to see a new movie
being able to see a new movie
spending money on the movie tickets
being able to see a new movie
The most likely opportunity cost of choosing to play a board game rather than going to the movies is the opportunity to see a new movie.
The most likely opportunity cost of choosing to play a board game rather than going to the movies is "being able to see a new movie."
Opportunity cost refers to the value of the next best alternative that is forgone when making a decision. In this case, if you choose to play a board game, the opportunity cost is not being able to see a new movie. By playing the board game, you are giving up the chance to experience a new movie and the enjoyment that comes with it.
To identify the opportunity cost, you need to consider the alternatives available and evaluate what you would be giving up by choosing one option over the other. In this case, if the choice is between playing a board game or going to the movies, the opportunity cost is the value of the movie experience that you would miss out on.