You can spend $100 on either a new economics textbook or a new tablet computer. If you choose to buy the new economics textbook, the opportunity cost is:

Select one:

a. your enjoyment of the new tablet computer.

b. both the $100 and the your enjoyment of the new tablet computer.

c. $100.

d. impossible to determine.

Question

Macie

Business

27 January, 17:22

You can spend $100 on either a new economics textbook or a new tablet computer. If you choose to buy the new economics textbook, the opportunity cost is:

Select one:

a. your enjoyment of the new tablet computer.

b. both the $100 and the your enjoyment of the new tablet computer.

c. $100.

d. impossible to determine.

+5

Answers (1)

Know the Answer?

Franklin Johnston · Answer 1

The correct answer is a. your enjoyment of the new tablet computer.

Explanation:

The cost of opportunity is the alternative that you sacrifice when you choose an option. It represent the benefits that you misses out on when choosing one alternative over another.

In this case, the cost of opportunity is enjoy the tablet computer because that is what you left behind.