The opportunity cost of an extra hour of leisure is:

A) $1.
B) the hourly wage rate.
C) the same as the price of money.
D) always less than the value of the marginal product of labor.

Question

The opportunity cost of an extra hour of leisure is:A) $1.B) the hourly wage rate.C) the same as the price of money.D) always less than the value of the marginal product of labor.

Amber Kraus · Accepted Answer

Final Answer : B, Explanation :  The opportunity cost of an extra hour of leisure is the hourly wage rate, as that is the amount of money one could earn if they chose to work instead of taking that hour of leisure.

The opportunity cost of an extra hour of leisure is:

A) $1.
B) the hourly wage rate.
C) the same as the price of money.
D) always less than the value of the marginal product of labor.

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