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Question
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
spending money on the movie tickets
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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.
The most likely opportunity cost of choosing to play a board game rather than going to the movies is spending money on the movie tickets.
To determine the most likely opportunity cost of choosing to play a board game rather than going to the movies, let's review the options provided:
1. Being able to visit with friends
2. Spending money on the board game
3. Being able to see a new movie
4. Spending money on the movie tickets
Opportunity cost refers to the value of the next best alternative that is forgone when making a choice. In this situation, the opportunity cost of choosing to play a board game rather than going to the movies would be the next best alternative that is given up.
Option 1, being able to visit with friends, may or may not be an opportunity cost depending on the context. It's possible to play board games and visit with friends at the same time, so it may not be the most likely opportunity cost in this scenario.
Option 2, spending money on the board game, is a possible opportunity cost. If you choose to spend money on a board game, you may not have that money available to spend on going to the movies.
Option 3, being able to see a new movie, is also a possible opportunity cost. By choosing to play a board game, you are giving up the opportunity to watch a new movie.
Option 4, spending money on the movie tickets, is similar to option 2. If you choose to spend money on movie tickets, you may not have that money available to spend on buying a board game.
Based on these options, the most likely opportunity cost of choosing to play a board game rather than going to the movies is either spending money on the board game or being able to see a new movie. It ultimately depends on the individual's preferences and circumstances.