Answer:
Example
Step-by-step explanation:
1. Option #1: hang out with my friend; Option #2: study for a test; Option #3: go shopping
2. I chose to *hang out with my friend* and my opportunity cost of that decision was that I did not get to *study for a test*
3. There would still be an opportunity cost because by hanging out with a friend, I lost the time to study for my test. Opportunity cost means losing potential gain because one alternative was chosen over other alternatives. In this instance, I could not gain the knowledge of the test because I was instead strengthening my friendship. Although no money was involved, there was still the cost of not studying.