A Test Was Scheduled for Monday Morning, but You Went

question 130

Multiple Choice

A test was scheduled for Monday morning, but you went to a party on Saturday night.If you hadn't attended the party, you could have studied for the test or gone to a movie.Which of the following is true?

• A)The opportunity cost of going to the movie is studying for the test.
• B)The opportunity cost of going to the party is the movie.
• C)The opportunity cost of going to the party is both the movie and the study time.
• D)Because you could go to the party only that night but could go to a movie any time, the opportunity cost of the party is the study time.
• E)From the above information, it's not possible to determine the opportunity cost of attending the party.

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Definitions:

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