Asked by
Deborah Jaeger
on Oct 27, 2024
Verified
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:
A) $100.
B) your enjoyment of the new tablet computer.
C) both the $100 and your enjoyment of the new tablet computer.
D) impossible to determine.
Opportunity Cost
Losing the benefits of the closest substitute when a choice is made.
Tablet Computer
A portable personal computer equipped with a touchscreen as the primary input device, designed for mobility and convenience.
Economics Textbook
A publication that systematically presents economic theories, principles, and concepts to learners at various levels of education.
- Comprehend the function and impact of opportunity cost on economic decision-making.
- Implement the principle of opportunity cost in daily monetary and non-monetary choices.
Verified Answer
CP
Learning Objectives
- Comprehend the function and impact of opportunity cost on economic decision-making.
- Implement the principle of opportunity cost in daily monetary and non-monetary choices.