Question

Tanya had a hard time deciding between the big burger and the crispy chicken sandwiches her two favorites she chose the chicken because she had more recently had a burger what is her opportunity cost

Answer 1

By definition, opportunity cost is the cost of the next alternative that you gave up because you choose another one. In this case, there are two alternatives: the big burger, and the chicken sandwich. Because Tanya chose chicken sandwich, then her opportunity cost is the cost of the big burger.