Here Are Three Things You Could Do If You Choose

question 26

Multiple Choice

Here are three things you could do if you choose not to go to class one day next week: sleep later (you value this at $15) ,hang out with friends (you value this at $14) ,or go in to work (you could earn $12 during class) .The opportunity cost of going to class is

• A) $12, because this is the only alternative of the three where you actually receive a monetary payment.
• B) $12, because this is the lowest valued alternative forfeited.
• C) $15, because this is the highest valued alternative forfeited.
• D) $41, because this is the total dollar sum of the alternatives forfeited.

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Definitions:

Relevant Experience

Direct involvement or participation in activities related to a specific field or subject matter.

Prolonged Experience

Extended exposure or involvement in a particular activity, condition, or environment over time, contributing to a deeper understanding or expertise.

Fact-Check

The process of verifying the accuracy and truthfulness of statements or claims to distinguish between fact and fiction.

Critical Thinkers

Individuals who actively engage in analysis, synthesis, and evaluation of information gathered from observation, experience, reflection, or communication.