Question 12 (1 point) D Tim woke up this morning with a stomachache and decided

Question

Question 12 (1 point) D Tim woke up this morning with a stomachache and decided to skip class in order to get more rest. What is the opportunity cost of Tim's decision to sleep in? a) the actual enjoyment of lying in bed instead of sitting in class b) the value of attending the class he decided to miss the improvement in how he feels by getting more rest d) the level of pain he endured from the stomachache Save Question 13 ( poino The conversion of resources to satisfy wants is described as consumption.

Explanation / Answer

Answer is b. The value of attending the class he decided to miss.

Explanation:

The Opportunity cost os the sacrifice which the person has to bear for the decision he has taken. Therefore for taking the decision of resting, the person has to sacrifice the gain he gets from not attending the class.

Related Questions

Navigate

• Browse (All)
• Browse Q
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.