A Test Was Scheduled for Monday Morning, but You Went

question 130

Multiple Choice

A test was scheduled for Monday morning, but you went to a party on Saturday night.If you hadn't attended the party, you could have studied for the test or gone to a movie.Which of the following is true?

• A)The opportunity cost of going to the movie is studying for the test.
• B)The opportunity cost of going to the party is the movie.
• C)The opportunity cost of going to the party is both the movie and the study time.
• D)Because you could go to the party only that night but could go to a movie any time, the opportunity cost of the party is the study time.
• E)From the above information, it's not possible to determine the opportunity cost of attending the party.

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Definitions:

Sales Dollars

The total monetary value of all sales transactions made by a company within a given period.

Town Division

A specialized segment within a larger organization or a local government area, focused on managing and providing services to a specific geographic area.

Country Division

A segment or unit of a company that operates in a specific country, responsible for tailoring operations to the local market.

Fixed Expenses

Costs that do not change with the level of production or sales, such as rent and salaries.