Melody Decides to Spend Three Hours Working Overtime Rather Than
Melody decides to spend three hours working overtime rather than going to the park with her friends.She earns $20 per hour for overtime work.Her opportunity cost of working is
A)the $60 she earns working.
B)the $60 minus the enjoyment she would have received from going to the park.
C)the enjoyment she would have received had she gone to the park.
D)nothing,since she would have received less than $60 worth of enjoyment from going to the park.
Ramona decides to spend two hours taking a nap rather than attending her classes.Her opportunity cost of napping is
A)the value of the knowledge she would have received had she attended class.
B)the $24 she could have earned if she had worked at her job for those two hours.
C)the value of her nap minus the value of attending class.
D)nothing,since she valued sleep more than attendance at class.
Hamid spends an hour studying instead of watching TV with his friends.The opportunity cost to him of studying is
A)the improvement in his grades from studying for the hour.
B)the improvement in his grades from studying minus the enjoyment of watching TV.
C)the enjoyment he would have received if he had watched TV with his friends.
D)zero.Since Hamid chose to study rather than to watch TV,the value of studying must have been greater to him than the value of watching TV.
For most students,the largest single cost of a college education is
A)the wages given up to attend school.
C)room and board.