As you increase the hours that you study for an economics exam, the opportunity cost of studying for the exam increases.
<h3>What is opportunity cost?</h3>
Opportunity cost of the next best option forgone when one alternative is chosen over other alternatives. Opportunity cost is also known as an implicit cost.
Opportunity cost arises because the resources needed to satisfy human wants are available in limited quantities. So as more resources are used for an economic activity, less resources would be available to produce other activities.
As you spend more time studying for your economics exam, you would have less time for other activities. So, your opportunity cost increases.
Here are the options of this question:
a) increases.
b) decreases.
c) stays the same.
d) may increase or decrease.
To learn more about opportunity cost, please check: brainly.com/question/26315727
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