Question

question 1 (mandatory) (3.0303 points)
stephanie has only one hour to correct a homework assignment in math or to complete an assignment in economics. for stephanie, the opportunity cost of spending the hour completing the economics assignment is
a) a lower grade on the math homework.
b) a higher grade in both the math exam and the economics assignment.
c) none because math and economics are unrelated.
d) a higher grade in the math homework.
e) a lower grade in both the math homework and the economics assignment.

Explanation:

Opportunity cost refers to the value of the next-best alternative that is forgone when making a choice. In this case, if Stephanie uses her hour to complete the economics assignment, she gives up the chance to correct her math homework, which would have allowed her to get a higher grade on that math homework.

Answer:

d) a higher grade in the math homework.