Question

Select the correct text in the passage.

What is the opportunity cost in this scenario?
Harry has been very busy at work for the past two weeks. He has been working weekends too. Finally, he is going to get a weekend off.
Originally, he planned to paint his apartment that weekend. He also considered going fishing for the weekend.
But then his parents called and asked him to come for dinner because it has been a while since they have seen each other.
Later on, his friend Theo informed him about a surprise birthday party for another friend. Theo plans to reserve a room at a restaurant for the
celebration, with the cost to reserve the room split between Theo, Harry, and three other friends.
Now Harry is confused about what he should do over the weekend. He decides that, for him, the most important commitments are going over to his
parent's house and attending his friend's birthday party. In the end, Harry decides to see his parents
Reset
Next
US

Answer 1

Later on, his friend Theo informed him about a surprise birthday party for another friend.

Answer 2

In this case there is an Implicit Cost: This is an opportunity cost that DOES NOT involve a money payment or market transaction. The oportunity costs for going to his paterns house are

1. The celebration of the surprise party with his friends.
2. To paint his appartment.
3. Going fishing.