Your opportunity cost of attending a lecture on the number of brain cells lost by binge-watching episodes of Here Comes Honey Boo Boo is
A) zero, since you already know that binge-watching will kill all of your brain cells.
B) the price of the ticket for the lecture.
C) the value of attending a meditation class, which is your next-best alternative.
D) the total value of all other options you could have chosen instead of going to the lecture.

Question

Quizplus · Accepted Answer

The opportunity cost of an action is the value of the next-best alternative that you give up by choosing that action. In this case, if the next-best alternative to attending the lecture is attending a meditation class, then the opportunity cost of attending the lecture is the value of attending the meditation class.

Your Opportunity Cost of Attending a Lecture on the Number