Whether the trade-off between current and future reproduction in insect par
asitoids is mediated by the costs of time or eggs remains an issue of conte
ntion. Life-history models predict that parasitoids have some risk of exhau
sting their lifetime supply of oocytes. I develop a simple conceptual model
that assesses the relative contributions of time and eggs to the cost of r
eproduction by placing them in a common currency: foregone future fitness r
eturns. Although rates of egg limitation observed in nature are modest, egg
s still often make the dominant contribution to the overall cost of oviposi
tion. Therefore, models of parasitoid reproduction must recognize the costl
iness of both time and eggs.