You Have Two Options for How to Spend the Afternoon

question 34

Multiple Choice

You have two options for how to spend the afternoon. You can either go see a movie with your roommate or work as a tutor for the Math Department. From experience, you know that going to see a movie gives you $20 worth of enjoyment, and with your student discount, a movie ticket only costs $12. If you spend the afternoon working as a math tutor, you will get paid $45. On a typical day, you wouldn't be willing to spend the afternoon working as a math tutor for less than $35. What is your opportunity cost of seeing a movie this afternoon?

• A)$8
• B)$12
• C)$22
• D)$57

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Definitions:

Familiar

Well-known or easily recognized by many people due to exposure or experience.

Retirement Account

A financial account specifically designed for saving and investing funds to support individuals financially in their retirement years.

Shopping Product

Consumer goods that are usually more expensive and bought less frequently, where buyers spend time comparing quality, price, and style across different sellers.

College Student

An individual enrolled in an institution of higher education to pursue a degree or certification.