Asked by
Fouad Mouallem
on Oct 27, 2024
Verified
The Taco Hut charges the same price for everything on its menu: $3 will buy a taco,a burrito,or nachos.You buy the taco and think that if you had not purchased the taco,you would have purchased the burrito.The opportunity cost of the taco is:
A) $3.
B) your enjoyment of the burrito.
C) $3 and your enjoyment of the burrito.
D) $3,your enjoyment of the burrito,and your enjoyment of the nachos.
Opportunity Cost
The worth of the most favorable option given up when a choice is made.
Taco
A traditional Mexican dish consisting of a small hand-sized tortilla topped with a filling.
Burrito
A Mexican-inspired dish consisting of a large wheat flour tortilla wrapped or folded around a filling that typically includes meat, beans, rice, cheese, and vegetables.
- Realize the role and repercussions of opportunity cost in the context of economic decision-making.
Verified Answer
MC
Learning Objectives
- Realize the role and repercussions of opportunity cost in the context of economic decision-making.