Question

According to the "Law of Increasing Opportunity Costs," what would be the opportunity cost of a student who is staying up all night to study for an exam that he has to take in the early morning?
A. Food or Drink.
B. Money or income.
C. Sleep or rest.

Answer 1

C. The opportunity cost of a student who is staying up all night to study for an exam that he has to take in the early morning is sleep or rest.

What is law of opportunity cost?

The law of increasing opportunity cost is an economic principle that describes how opportunity costs increase as resources are applied.

As the student gives up his sleep or night rest in the place of his exam preparation, we say that the opportunity cost is the sleep or rest.

Thus, the opportunity cost of a student who is staying up all night to study for an exam that he has to take in the early morning is sleep or rest.

Learn more about opportunity cost here: brainly.com/question/8846809

#SPJ1