Becky loves watching her favorite 30-minute television shows, once they become available for streaming on the Internet. In order from her most to least favorite, Becky's all-time favorite Shows, in order of preferences, are Community, Parks and Recreation, The Office, and 30 Rock. Becky has time for only one show and Community is not available. She chooses to watch Parks and Recreation. What is her opportunity cost

Opportunity cost in economics is the theory of one action leading to the refusal or choosing one over the other. This means that the choice left is the opportunity cost of that person.

The value of one thing after it is rejected over another choice is the opportunity cost of that option.

In the given scenario, Becky has several favorite television shows that she likes.

But while her favorite among the 'favorites' is unavailable, she chooses the next best show.

This means that she chose the second-best show she likes, leaving out the other shows she still likes.

The opportunity cost of Becky would then would be the shows that she 'rejected' or choose to watch, which are "The Office" and "30 Rock".

These television shows may be her favorites but even within them, she has preferences. And in choosing "Parks and Recreation" over "The Office" and "30 Rock" with the unavailability of her first preference, the least favorite shows are Becky's opportunity costs.

Learn more about "opportunity cost" here:

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