Opportunity Cost Of Studying
Instead of studying macroeconomics, Mary could have spent her time making brownies or playing the piano. If she had not studied, she would have chosen to make brownies. Which of the following represents her opportunity cost of studying?
A
The value of playing the piano.
B
The amount of time Mary spent studying.
C
The cost of the ingredients needed to make brownies.
D
The value of making brownies, her next best alternative.
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