Prior to attending college, Marvin is offered a lucrative four-year contract as an actor on a daytime soap opera. Assuming that acting and attending college are Marvin's preferred alternatives and that he must choose between these two options, his opportunity cost of attending college after receiving the offer on the soap opera __, making him likely to attend college than before he received the offer. a. stays the same; equally likely b. decreases; more OC. increases; more d. increases; less o e. decreases; less

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Business

Josie

7 May, 03:50

Prior to attending college, Marvin is offered a lucrative four-year contract as an actor on a daytime soap opera. Assuming that acting and attending college are Marvin's preferred alternatives and that he must choose between these two options, his opportunity cost of attending college after receiving the offer on the soap opera __, making him likely to attend college than before he received the offer. a. stays the same; equally likely b. decreases; more OC. increases; more d. increases; less o e. decreases; less

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Helen Craig · Answer 1

d. increases; less

Explanation:

Based on the information provided it can be said that his opportunity cost of attending college after receiving the offer on the soap opera increases, making him less likely to attend college than before he received the offer. This is because by having another option available he has to choose between both scenario's that he enjoys and give up the other one, thus increasing his opportunity cost but at the same time since he has another option it makes it less likely that he would choose school.