Scenario 1-1 You Have the Afternoon Free. You Have a Choice Between

question 57

Short Answer

Scenario 1-1
You have the afternoon free. You have a choice between going to the movies with a friend or studying economics for three hours. If you go to the movies, you will spend $8.00 on a ticket and $4.50 on popcorn. If you choose to study economics for three hours, you will raise your exam grade by 10 points.
-Refer to Scenario 1-1. What is your opportunity cost of going to the movies?

---

Definitions:

Great Britain

An island in the North Atlantic Ocean off the northwest coast of continental Europe, comprising England, Scotland, and Wales, and forming the major part of the United Kingdom.

Boumediene V. Bush

A 2008 U.S. Supreme Court case that ruled detainees at Guantanamo Bay have the right to challenge their detention in U.S. courts.

George W. Bush

The 43rd President of the United States, serving from 2001 to 2009, known for leading the country during the September 11 attacks and initiating the Iraq War.

Occupy Wall Street

A grassroots movement in 2011 against growing economic inequality, declining opportunity, and the depredations of Wall Street banks.