A decision-making grid helps you to see what you gain and what you lose when you make choices. The decision-making grid below shows the costs and benefits of hours spent studying versus time spent socializing: Choice Benefit Opportunity Cost One hour of extra study D in government class One hour with friends Two hours of extra study C in government class Two hours with friends Three hours of extra study B in government class Three hours with friends Four hours of extra study B in government class Four hours with friends Five hours of extra study A in government class Five hours with friends Six hours of extra study A in government class Six hours with friends What is Max’s opportunity cost of three extra hours of study? What is Max’s marginal cost of moving from a grade of B to a grade of A? Group of answer choices 1 hour with friends; 3 extra hours with friends 3 hours with friends; 1 extra hour with friends 1 hour with friends; 5 extra hours with friends 3 hours with friends; 4 extra hours with friends
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