Asked by

vaibhav prajapati
on Nov 06, 2024

verifed

Verified

You own the video game Grand Theft Auto V. The opportunity cost of playing this game for the second time

A) is zero.
B) is one-half the cost of the game, as this is the second time you have played it.
C) is the value of the alternative use of the time you spend playing the game.
D) cannot be calculated.

Opportunity Cost

The cost of choosing one alternative over another, typically representing the benefits you could have received by taking a different action.

Alternative Use

The potential other applications or purposes for which a resource, asset, or investment could be utilized instead of its current use.

Game

An interactive, often competitive activity involving skill, chance, or endurance on the part of two or more persons who play by a set of rules, usually for entertainment.

  • Gain insight into the concept of opportunity cost and its application in decision-making scenarios.
verifed

Verified Answer

SM
Saranya MuraliNov 09, 2024
Final Answer:
Get Full Answer