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QUESTION 4 Which of the following is the opportunity cost of the commuting cost t? [Select one answer that is correct.] D Gasoline Cost O Automobile insurance cost Automobile depreciation Getting up early to catch up LIRR to Manhattan

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The opportunity cost is the cost of preceding next best alternative to produce economic activity. The opportunity cost can be measured as the cost of the following best option if it would have been chosen instead. In this case, the cost of commuting is gasoline cost, insurance cost and depreciation of the car. These all are the direct cost of commuting. The opportunity cost is the cost of the alternative the commuter give up to commute. Then it is the LIRR to Manhattan.

Therefore, the correct option is: (d) getting up early...

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