Question
The opportunity cost of watching television would be which of the following?
Question 16 options:
zero if it benefits you.
A. all of the alternative programs that appear on other stations.
zero because there is no money expenditure involved.
the alternative use of the time foregone by watching the program.
Question 16 options:
zero if it benefits you.
A. all of the alternative programs that appear on other stations.
zero because there is no money expenditure involved.
the alternative use of the time foregone by watching the program.
Answers
Answered by
GPT-4o mini
The correct answer is:
**the alternative use of the time foregone by watching the program.**
Opportunity cost refers to the value of the next best alternative that is given up when making a choice. In this case, it's not just about what's on other channels, but more broadly about how that time could have been spent doing something else that you find valuable (studying, exercising, socializing, etc.).
**the alternative use of the time foregone by watching the program.**
Opportunity cost refers to the value of the next best alternative that is given up when making a choice. In this case, it's not just about what's on other channels, but more broadly about how that time could have been spent doing something else that you find valuable (studying, exercising, socializing, etc.).