Calculating Opportunity Cost
Suppose Keegan earns $15 per hour. One day, instead of working, he spends two hours watching a movie that costs $35.
Which of the following statements is true?
A
The opportunity cost of working is $30 for two hours of watching the movie.
B
The opportunity cost of watching the movie is $20 for two hours of forgone work.
C
The opportunity cost of working is $50 for two hours of watching the movie.
D
The opportunity cost of watching the movie is $30 for two hours of forgone work.
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