Learning Path
Question & Answer1
Understand Question2
Review Options3
Learn Explanation4
Explore TopicChoose the Best Answer
A
The cost of the concert ticket
B
The knowledge gained from studying
C
The enjoyment you would have experienced at the concert
D
Your overall GPA
Understanding the Answer
Let's break down why this is correct
Answer
Opportunity cost is what you give up when you make a choice. In this case, if you choose to study for your exam instead of going to the concert, the opportunity cost is the enjoyment and experience you would have had at the concert. This includes the fun of listening to live music, spending time with friends, and creating memories. By studying, you might feel more prepared for your exam, but you are sacrificing that special event. So, understanding opportunity cost helps you see what you really value in your decisions.
Detailed Explanation
The opportunity cost is what you give up when you make a choice. Other options are incorrect because Some might think the ticket price is the cost; Learning from studying is a benefit, not a cost.
Key Concepts
opportunity cost
Topic
Understanding Opportunity Costs
Difficulty
easy level question
Cognitive Level
understand
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