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AP Microeconomics Cba 1 A a Define Opportunity Cost B Explain the Opportunity Costs Associated with Choices C Calculate the Opportunity Costs Questions

Practise identifying the next-best forgone alternative, combining explicit and implicit costs, calculating opportunity cost from data, and explaining rising marginal cost.

Syllabus
Effective Fall 2022
Course
AP Microeconomics

Exam points

  • identify the next-best forgone alternative as the opportunity cost of a choice
  • combine explicit spending with forgone earnings when calculating the economic cost of a decision
  • calculate forgone output, time, or score changes from a table or choice scenario
  • explain rising marginal opportunity cost when each added unit requires a larger sacrifice

AP Microeconomics Cba 1 A a Define Opportunity Cost B Explain the Opportunity Costs Associated with Choices C Calculate the Opportunity Costs Questions question 1

[Maximum number: 2]

Nirali is a student at the University of Ainsley. She has 5 hours to study for two exams today. The tables below show Nirali's expected scores given the amount of time she studies for each exam.

Table for Question AP Microeconomics Cba 1 A a Define Opportunity Cost B Explain the Opportunity Costs Associated with Choices C Calculate the Opportunity Costs Questions question 1 — AP Microeconomics
Table for Question AP Microeconomics Cba 1 A a Define Opportunity Cost B Explain the Opportunity Costs Associated with Choices C Calculate the Opportunity Costs Questions question 1 — AP Microeconomics

Question (a)

(a)

Calculate Nirali's opportunity cost of the second hour spent studying history.

[ 1 ]

Question (b)

(b)

Assume Nirali increases the time she allocates to studying history. What happens to the opportunity cost of studying history? Explain.

[ 1 ]
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