Which of the Following Statements About the Opportunity Cost of an Airplane

question 283

Multiple Choice

Which of the following statements about the opportunity cost of an airplane flight is the most accurate?

• A) It is identical for all passengers and equal to the number of hours a particular flight takes.
• B) It differs across passengers to the extent that both the airfare paid and the highest valued use of travel time vary.
• C) It is equal to the cost of a bus ticket, the next best form of alternative transportation to flying.
• D) It differs across passengers only to the extent that each traveller pays a different airfare.

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Definitions:

Social Skills

Pertains to the abilities required to communicate, interact, and build relationships with others effectively.

Humans

Members of the species Homo sapiens, characterized by bipedalism, high brain capacity for abstract reasoning, communication, and tool use.

Primates

The mammalian order encompassing humans, apes, monkeys, and prosimians, characterized by large brains, forward-facing eyes, and complex social behaviors.

Social Perspective

A viewpoint that focuses on the behavior of individuals as influenced by the social structures and cultural norms within which they operate.