You're Trying to Determine Whether to Spend Your Saturday Afternoon

question 113

Multiple Choice

You're trying to determine whether to spend your Saturday afternoon attending a street festival, working to earn $100, or studying for your midterm exam. You really don't want to work, so you flip a coin between attending the street festival and studying. The coin flip determines that you should stay home and study. The opportunity cost of your time spent studying includes:

• A) the loss of $100 worth of wages and the joy from going to the street festival.
• B) earning a high score on your midterm and thus improving your grade in the class.
• C) the benefit that you could have received from attending the street festival.
• D) the time you spent deciding and using a coin flip to determine your Saturday afternoon activity.

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