If I have a choice to buy a sweater and a new pair of pants and I choose the sweater, my opportunity cost is

Question

asked May 12, 2023 177k views

1 Answer

← Prev Question Next Question →

Ask a Question

Erick Boshoff · Answer 1 · 2023-05-16T07:10:23+0000

Answer:

The new pair of pants

Step-by-step explanation:

Opportunity cost is the value of the next-best alternative when a decision is made; it's what is given up. Hence, you gave up the option to buy the pair of pants in favor of buying the sweater.

If I have a choice to buy a sweater and a new pair of pants and I choose the sweater, my opportunity cost is

Please log in or register to add a comment.

Please log in or register to answer this question.

1 Answer

Please log in or register to add a comment.

No related questions found

Categories

Other Questions