Discovery: Opportunity Costs. Neither elective is available at another time; however, you want to take both classes. What's the opportunity cost if you choose accounting?
A. The personal finance class
B. The effort put into learning accounting
C. The time spent reviewing notes
D. The cost of learning materials
Answer (2)
The opportunity cost of choosing accounting over personal finance is the value of the personal finance class that you are giving up. It represents the benefits and knowledge you would have gained from taking that class instead. Thus, the correct answer is the personal finance class. ;
The opportunity cost of choosing accounting is the personal finance class that you are giving up. This represents the knowledge and benefits you would have gained from taking personal finance instead. Thus, the correct answer is the personal finance class.
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