Answer:
The correct answer is option c.
Explanation:
The opportunity cost of an economic decision can be defined as the cost of sacrificing or giving up the second-best alternative. Since the resources are scarce and have alternative uses we have to give up some uses in order to choose one.
Kate earlier had a grade point average of 3.5.
She took up a part-time job. Her grade fell to 2.9, as a result of the reduction in study time.
The opportunity cost of taking up the job will be the loss of 0.6-grade point average.
