Each of the following is an example we can use to talk about the concept of opportunity cost. Which correctly identifies the opportunity cost for the situation it describes?

The Von Trapp family takes a vacation instead of spending the money on a new car, the opportunity cost of the vacation is the cost of getting a new car.

As a consultant, you get paid $75 an hour. Instead of working one night, you go to a concert that costs $25 and lasts two hours. The opportunity cost of the concert is $25.

Oya decides not to see a movie so that she has more time to study for a test to improve her grades. The opportunity cost is the cost of the movie and the enjoyment of seeing it.

A business firm owns the building they have their offices. If they move out, the building could be rented to someone else. The opportunity cost of staying there is the amount of rent they would have earned if they moved out and rented the place to another business.

All of the above

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