Question

Which type of cost occurs when an individual pays for a piano lesson instead of going to a movie?

A) fixed cost
B) marginal cost
C) residual cost
D) opportunity cost

Answer 1

D)opportunity cost

Step-by-step explanation:

because when you choose to do one thing instead of doing another, you've made an opportunity cost.

Answer 2

The answer would be A) because a fixed cost is a rate.