Amy Can Study for an Hour or Spend That Hour

question 162

Multiple Choice

Amy can study for an hour or spend that hour sleeping or going out for dinner. If she decides to study for the hour, the opportunity cost of the hour spent studying is

• A)definitely going out to dinner because she must eat at some time.
• B)definitely going to sleep.
• C)sleeping or going out for dinner, whichever she would have preferred the most.
• D)sleeping and going out for dinner.
• E)studying since this is the choice she opted for.

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Definitions:

Society

A group of individuals involved in persistent social interaction, or a large social grouping sharing the same geographical or virtual territory, subject to the same political authority and dominant cultural expectations.

Reciprocity

The obligation to return in kind what another has done for us.

Neighbor

An individual who lives near or next to another; in a broader sense, anyone with whom one shares a close proximity geographically.

Ill

In poor health or suffering from a disease or ailment.