[ECON 1] - Final Exam Guide - Everything you need to know! (34 pages long)

Emma decided to study an extra hour an extra hour for her Economics exxam instead of completing the final edit for her English Lit paper. Assume that Emma's best opition is to study for her exam and her next best opition is to edit her paper. The opportunity cost of this decision is best measured as the amoung by which Emma's grade may:

a. rise on her English Lit paper

b. rise on her Economics exam

c, fall on her English Lit paper

D, fall on her Economics exam

1) Ted chooses to study for his economics exam instead of going to the concert. The concert he will miss is Ted's of studying for the exam. A) discretionary cost B) monetary cost C) absolute cost D) comparative cost E) opportunity cost