Question

Suppose that you prefer reading a book you already own to watching videos and that you prefer watching videos to listening to music. If these are your only three choices, what is the opportunity cost of reading?

Answer 1

Reading is a little bit harder than actually just listening to somebody or something reading. As while reading you have to remember stuff and all of that. But when somebody is reading to you it is easy to remember stuff because most likely they will remember for you.

Answer 2

Answer: The opportunity cost of reading is the time spent watching videos and listening to music.

The opportunity cost also known as alternative cost, of making a choice is known as the cost/value of the most valuable choice among the one not considered. An option which is taken in consideration from alternatives, opportunity cost is then referred to the "cost" that has incurred by not utilizing the benefit in association with the best choice.