CLEP Principles Of Macroeconomics Practice Questions - CLEP Principles Of Macroeconomics Exam

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A student gives up two hours of paid work worth $30 to attend a free concert. What is the opportunity cost of attending the concert?

Zero, because the concert is free The $30 in forgone wages The price of a concert ticket elsewhere The enjoyment gained from the concert

Correct Answer:

The $30 in forgone wages

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