Question

20 1 point Table 2 Possibility A Economics 94 87 History 76 84 91 Refer to Table 2. A student has only a few hours to prepare for two different exams tomorrow morning. The above table shows alternative possible exam outcomes with three alternative uses of the student's time. The opportunity cost of scoring an 84 on the history exam rather than 76 is: 0 A. 10 points on the economics exam OB. 8 points on the history exam 〇c. 7 points on the economics exam 0 D. 12 points on the economics exam

Answer 1

Answer: C

Opportunity cost is the best benefit foregone for choosing an alternative course of action. If the possibility II is chosen because of the mark 84 instead of 76, the mark of economics will go down from 94 to 87. Therefore, the sacrifice is on the economics subject. The opportunity cost is (94 – 87 =) 7.