Exploring Economics: End of Chapter Problems 4. You normally stay at home on Wednesday nights and study. However, next Wednesday night, your best friend is having a big birthday party. What might be the opportunity cost of going to the party? The benefit (such as a higher homework or exam grade) that you would have gained from studying that night. The price of a gift you purchase for your friend. The value of a concert that you could have attended had you neither gone to the party nor spent the night studying. Unforeseen regret you feel the next day over having consumed too much cake at the party.
Exploring Economics: End of Chapter Problems 4. You normally stay at home on Wednesday nights and study. However, next Wednesday night, your best friend is having a big birthday party. What might be the opportunity cost of going to the party? The benefit (such as a higher homework or exam grade) that you would have gained from studying that night. The price of a gift you purchase for your friend. The value of a concert that you could have attended had you neither gone to the party nor spent the night studying. Unforeseen regret you feel the next day over having consumed too much cake at the party.
Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter1: What Is Economics
Section: Chapter Questions
Problem 2AA
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Exploring Economics: End of Chapter Problems
4. You normally stay at home on Wednesday nights and study. However, next Wednesday night, your best friend is having a
big birthday party. What might be the opportunity cost of going to the party?
The benefit (such as a higher homework or exam grade) that you would have gained from studying that night.
The price of a gift you purchase for your friend.
The value of a concert that you could have attended had you neither gone to the party nor spent the night studying.
Unforeseen regret you feel the next day over having consumed too much cake at the party.
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9/15/2021
EP
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