ECONOMICS
OPPORTUNITY COST
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Alex is studying for his math quiz, but his favorite TV show just started. If he studies for the quiz, he will miss out on watching the show. Alex decides to watch the show and stop studying for the quiz. What is the opportunity cost of his decision?
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studying for a quiz
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watching TV
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eating dinner
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taking a nap
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Explanation:
Detailed explanation-1: -Opportunity cost refers to the value of the next best alternative.
Detailed explanation-2: -The correct answer is b. Benefits foregone by not choosing an alternative course of action.
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