Ask Question
7 October, 01:05

Bill has $10 to spend on a Superman, Batman, or an X-Men T-shirt. Bill buys the Superman T-shirt and the Batman shirt was a close second choice. What is the opportunity cost?

+5
Answers (1)
  1. 7 October, 01:16
    0
    Opportunity Cost = Batman Shirt

    Explanation:

    Opportunity Cost is the coat of next best alternative forgone while making a choice.

    Eg: Working as a teacher with salary Rs 20000, if a teacher sacrifises private coaching income = Rs 15000. Latter (Rs 15000) is the next best alternative forgone while choosing school teaching.

    Similarly, Bill choosing Superman T-shirt has opportunity cost as value of his second best choice foregone i. e Batman T-shirt
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Bill has $10 to spend on a Superman, Batman, or an X-Men T-shirt. Bill buys the Superman T-shirt and the Batman shirt was a close second ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers