Suppose There Are Three Alternatives to Attending a Social Event

question 69

Multiple Choice

Suppose there are three alternatives to attending a social event: read a novel (you value this at $10) , go to work (you could earn $20) , or watch videos with some friends (you value this at $25) . The opportunity cost of attending the social event is

• A)$45.
• B)$20.
• C)$10.
• D)zero.
• E)$25.

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Definitions:

Biologically Related

Being biologically related means sharing genetic material with another individual, typically through blood relations such as parent-child or siblings.

Alcoholic

A person who suffers from alcoholism, a chronic disorder characterized by the compulsive and uncontrolled consumption of alcohol.

Harm Reduction

A set of practical strategies and ideas aimed at reducing negative consequences associated with drug use and other risky behaviors.

Metabolizes Alcohol

The process by which the body breaks down alcohol through enzymes, primarily in the liver, converting it into substances that can be eliminated.