17. The opportunity cost of watching television is: a all of the alternative pro

Question

17. The opportunity cost of watching television is: a all of the alternative programs that appear on other stations bzero because there is no money expenditure involved the altemative use of the time foregone by watching the program. d. zero if it benefits you 18. Which of the following does not illustrate opportunity cost? a If I study, I must give up going to the football game. b. If I buy a computer, I must do without a 35" television. c. More consumer spending now means more spending in thefuture d. IfI spend more on clothes, I must spend less on food 19. should compare the When deciding whether to buy a second car, marginal analysis indicates that the purchaser a. benefits expected from two cars with the cost of both b additional benefits expected from a second car with the cost of the two cars dollar cost of the two cars with the potential income that the cars will generate d. additional benefits of the second car with the additional cost of the second car 20. According to marginal analysis, you should spend more time studying economics if the extra benefit from an additional hour of study: a. is positive. b outweighs the extra cost c exceeds the benefits of the previous hour of study d. will raise your exam score

Explanation / Answer

17. Option c. It is the next best alternative forgone
18. Option c. As the statement says nothing about to forgo
19. Option d. (2nd car benefit- 1st Car benefit)/(2nd Car Cost-1st Car Cost)
20. Option b.

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