Opportunity cost is best defined as ______(all of the other or the next best) ?alternative(s) that must be sacrificed to obtain something or to satisfy a want.
Which of the following would least likely? be, for the typical? student, the opportunity cost of attending a class at? 11:00 a.m.?
A. Partying with a close circle of friends.
B. Getting the? "jump" on most students by getting to the dining hall for lunch before the? mid-day rush.
C. Accepting work at the mall as a? part-time sales associate.
D. Taking a much needed course offered by another department.
The opportunity cost of attending a class at? 11:00 a.m. will likely differ from the opportunity cost of attending a class at? 8:00 a.m. because
A. a? student's evaluation of any given set of alternatives is likely to be? time-sensitive.
B. nothing is going on at 8 a.m.
C. the number and variety of alternatives at 11 a.m. are likely to differ from those available at 8 a.m.
D. both A and C are correct.