Saturday Afternoon You Can Either Attend a Street Festival,work and Earn

question 126

Multiple Choice

Saturday afternoon you can either attend a street festival,work and earn $100,or study for your midterm exam.You flip a coin between the street festival and studying,but did not really consider working.The coin flip determined that you would stay home and study.The opportunity cost of the time spent studying includes:

• A) the loss of $100 worth of wages and going to the street festival.
• B) earning a high score on your midterm.
• C) the benefit that could have been received at the street festival.
• D) The time you spent deciding upon using a coin flip to determine your Saturday afternoon activity.

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Definitions:

High Demand

A market condition where the desire for a product or service greatly exceeds the supply available.

AmazonSupply

An Amazon service aimed at providing businesses with a marketplace for industrial and scientific supplies. Note: As of my last update, AmazonSupply has been rebranded as Amazon Business.

Inventory

A complete list of items such as property, goods in stock, or the contents of a building.

Comet Bathroom Cleaner

A popular cleaning product designed for cleaning bathrooms and eliminating tough stains.