Hamid Spends an Hour Studying Instead of Watching TV with His

question 24

Multiple Choice

Hamid spends an hour studying instead of watching TV with his friends.The opportunity cost to him of studying is

• A)the improvement in his grades from studying for the hour.
• B)the improvement in his grades from studying minus the enjoyment of watching TV.
• C)the enjoyment he would have received if he had watched TV with his friends.
• D)zero.Since Hamid chose to study rather than to watch TV,the value of studying must have been greater to him than the value of watching TV.

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Definitions:

Finished Goods

Products that have completed the manufacturing process but have not yet been sold or distributed to the end consumer.