Multiple Choice
If you were not studying economics, you could be doing one of the following: sleeping in (which you value at $5) , playing cards with your friends (which you value at $10) , or working (you would have earned an extra $8) . The opportunity cost of studying economics is therefore:
A) $23.
B) $10.
C) $8.
D) $5.
Correct Answer:
Verified
Correct Answer:
Verified
Q49: Efficiency within economics focuses on<br>A) how well
Q77: For a nation, _ productivity growth leads
Q115: Excessive pollution is an example of market
Q124: Stylized economic models must include<br>A) assumptions.<br>B) inflation.<br>C)
Q141: Choosing to work an extra hour of
Q196: The _ of parking at school includes
Q201: Which statement does NOT describe model building
Q215: The problem of the medically uninsured involves<br>A)
Q247: The basic idea of opportunity cost is
Q306: Which statement is NOT considered a key