due: thursday, september 18, 2025 at 11:59 pm\nidentify and explain the opportunity costs by:\na) identify /…

due: thursday, september 18, 2025 at 11:59 pm\nidentify and explain the opportunity costs by:\na) identify / list 5 different activities:\n1\n2\n3\n4\n5\nb) for each activity, identify the \next best alternative\\n1\n2\n3\n4\n5\nc) for each of the activities above, do the following:\n1. the opportunity cost of ______ is i cannot\nposted: tuesday at 11:56 am\ncomments

due: thursday, september 18, 2025 at 11:59 pm\nidentify and explain the opportunity costs by:\na) identify / list 5 different activities:\n1\n2\n3\n4\n5\nb) for each activity, identify the \next best alternative\\n1\n2\n3\n4\n5\nc) for each of the activities above, do the following:\n1. the opportunity cost of ______ is i cannot\nposted: tuesday at 11:56 am\ncomments

Answer

Brief Explanations:

Opportunity cost is the value of the next - best alternative forgone when a decision is made. For part A, examples of activities could be going to a movie, studying for an exam, playing a sport, taking a nap, and reading a book. For part B, the next best alternative for going to a movie could be staying home and watching TV, for studying it could be hanging out with friends, for playing a sport it could be doing a workout at home, for taking a nap it could be listening to music, and for reading a book it could be writing in a journal. For part C, for example, the opportunity cost of going to a movie is not being able to stay home and watch TV.

Answer:

A.

  1. Going to a movie
  2. Studying for an exam
  3. Playing a sport
  4. Taking a nap
  5. Reading a book B.
  6. Staying home and watching TV
  7. Hanging out with friends
  8. Doing a workout at home
  9. Listening to music
  10. Writing in a journal C.
  11. The opportunity cost of going to a movie is I cannot stay home and watch TV.
  12. The opportunity cost of studying for an exam is I cannot hang out with friends.
  13. The opportunity cost of playing a sport is I cannot do a workout at home.
  14. The opportunity cost of taking a nap is I cannot listen to music.
  15. The opportunity cost of reading a book is I cannot write in a journal.