Question

Lois promised to take her nephew to the zoo on Tuesday afternoon. On Tuesday, her boss hands her a new project, due by the end of the day. Which of these is an opportunity cost of Lois using Tuesday to work on her project?

Answer 1

She and her nephew enjoy an afternoon at the zoo.


- I just took the exam myself and that answer was correct.

Answer 2

She and her nephew enjoying an afternoon at the zoo.

Step-by-step explanation:

Although the options are not included, there is only one possible answer based on this information. The opportunity cost of Lois using Tuesday to work on her project is that she and her nephew will not be able to enjoy an afternoon at the zoo. Opportunity cost refers to the value of the choice that is not taken. In other words, it refers to the opportunity you are sacrificing in order to take advantage of something else.