Asked by
diasia nunez
on Oct 27, 2024
Verified
A college student is faced with a difficult decision of how to spend one hour tonight.She could babysit her professor's child at an hourly wage of $7;she could work at the college library at a wage of $6;or she could finish her economics homework assignment.If she chooses to complete her homework assignment,she has incurred an opportunity cost equal to:
A) $7.
B) $6.
C) $13.
D) $0.
Opportunity Cost
In the process of making a decision, the disadvantage of excluding the immediately better option.
Economics Homework
Assignments given to students to deepen their understanding of economic principles, theories, and models.
- Grasp the concept and outcome of opportunity cost when involved in economic choice-making.
- Understand the significance of decision-making in the presence of limited resources and its effect on opportunity cost.
Verified Answer
CP
Learning Objectives
- Grasp the concept and outcome of opportunity cost when involved in economic choice-making.
- Understand the significance of decision-making in the presence of limited resources and its effect on opportunity cost.