If you choose to watch tv instead of playing a board game, the opportunity cost is:
visiting with friends
Improving your skills at the board game
Missing your favorite show
The opportunity cost is improving your skills at the board game.
The opportunity cost refers to the value or benefits that you give up by choosing one option over another. In this case, if you choose to watch TV instead of playing a board game, the opportunity cost would be:
1. Visiting with friends: If you had chosen to play a board game with friends instead of watching TV, you would have the opportunity to spend quality time and socialize with them.
2. Improving your skills at the board game: By opting to watch TV, you are missing out on the chance to practice and enhance your skills at the board game. Playing the game would provide an opportunity for learning and improving your strategies.
Therefore, the opportunity cost of watching TV instead of playing a board game would be both missing out on visiting with friends and improving your skills at the game.
The opportunity cost of choosing to watch TV instead of playing a board game is the value of the best alternative that you give up. In this case, there are a few potential opportunity costs:
1. Visiting with friends: If you choose to watch TV, you might miss out on an opportunity to spend quality time with friends. The value of this missed social interaction would be the opportunity cost.
2. Improving your skills at the board game: By not playing the board game, you are foregoing the chance to practice and improve your skills. If you value becoming better at the game, then the potential improvement you could have made is the opportunity cost.
3. Missing your favorite show: If you have a favorite TV show that you really enjoy, choosing to play the board game instead means you will miss watching that episode. The enjoyment and entertainment you would have received from watching the show is the opportunity cost.
Ultimately, the opportunity cost depends on your personal preferences and values. It could be any combination of the above options or even something entirely different.