When Paul Decides to Not Go to the Concert, but Goes

question 21

Multiple Choice

When Paul decides to not go to the concert, but goes to the library to study instead, he is:

• A)realizing that his time is a scarce resource that must be allocated.
• B)at least implicitly recognizing that the opportunity cost of going to the library is the concert he is giving up.
• C)making an economic decision.
• D)doing all of the above.
• E)doing choices A)and B)only.

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