From 8 to 11 P

question 438

Multiple Choice

From 8 to 11 p.m., Sam can either attend a basketball game, a hockey match or the symphony. Suppose that Sam decides to attend the hockey match and thinks to herself that if she did not go to the match she would go to the symphony. Then the opportunity cost of attending the hockey match is

• A) going to the symphony and the basketball game.
• B) going to the symphony.
• C) going to the basketball game.
• D) three hours of time.

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Definitions:

Global Businesses

Companies that operate and provide goods or services in multiple countries across the world.

Marginal Cost

The price of making an additional unit of a product.

Slope

A measure of the steepness or incline of a line or surface, typically described as the ratio between the change in the y-value and the change in the x-value.