Final answer:
Cameron's opportunity cost of spending an afternoon on his boat is the enjoyment of playing golf, which is the most desirable alternative he gave up. Opportunity cost highlights the benefits of the next best option foregone in favor of the chosen activity.
Step-by-step explanation:
The opportunity cost of Cameron choosing to spend his afternoon on his boat instead of the other activities relates to the value of the next best alternative that he did not choose. While he gave golf some serious consideration, there is no mention of the enjoyment value he would gain from cleaning the house since he never considered it. Therefore, the correct answer is a. The enjoyment of playing golf, as it is the most desirable alternative foregone. Cameron's enjoyment from golfing represents the value of what he has given up to pursue the chosen activity, being on his boat. Even though golf may involve some frustration, the opportunity cost reflects the potential positive aspects that are forfeited, not the negatives.
Understanding opportunity cost is crucial in decision-making, as it reflects the benefits of the best alternative forgone when a choice is made. Just as spending an extra $5 on lunch every day instead of bringing food from home might not seem significant in the short term, when projected annually, it represents a substantial sum that could have been spent on a vacation. Similarly, Cameron's decision carries with it the cost of not enjoying playing golf, even if his primary goal is relaxation on the boat.