Elena's aunt gave her $100 for her birthday with the condition that Elena buys herself something. In deciding how to spend the money, Elena narrows her options down to four choices: Option A, Option B, Option C, and Option D. Each option costs $100. Finally, she decides on Option B. The opportunity cost of this decision is

Question

24-11-2020
Business

contestada

Elena's aunt gave her $100 for her birthday with the condition that Elena buys herself something. In deciding how to spend the money, Elena narrows her options down to four choices: Option A, Option B, Option C, and Option D. Each option costs $100. Finally, she decides on Option B. The opportunity cost of this decision is

Respuesta :

Otras preguntas

The Mahabharata and the Ramayana were two epic poems from this civilization.

Some office workers bought a $60 gift for their boss. If there have been 5 more employees to contribute, everyone's cost would have been $2 less. How many worke

Why did the roaring 20s happen? What caused it?

Solve the following problem for y. 4x+12y=24

if a handsaw does the same amount of work on a log as a chainsaw does, which has more power why?

evaluate the importance of the microscope to biology

If a number is added to the numerator of 4/9 and twice as much is subtracted from the denominator, the result is -9. Find the number

Ginny has two vegetable gardens. in the first garden, Ginny grows tomatoes every 2 years. in the second garden, Ginny grows tomatoes every 3 years.This year, Gi

Which of the following is an irrational number? A. √254 B. 0.6 repeating C. 159÷7 D. √361

Parrain Parrain · Answer 1 · 2020-11-25T14:12:14+01:00

Answer: b. the value to Elena of the option she would have chosen had Option B not been available.

Explanation:

The opportunity cost of a course of action is the value of the next best alternative that would have been chosen had the current action not been undertaken.

The opportunity cost to Elena therefore, is the value of whatever option she would have chosen had option B not been available because that would have been the next best alternative.