An example of opportunity cost is the
A)income that a person does not earn because she has retired and decided not to work at all.
B)pleasure that an economics student derives from studying economics.
C)Chinese food that you gave up when you chose to eat Italian food.
D)tuition you pay to attend college.
E)price paid for a concert ticket when you go to that concert.

Question

Quizplus · Accepted Answer

Opportunity cost refers to the value of the best alternative that is forgone. In this scenario, the opportunity cost of choosing to eat Italian food is the Chinese food that was given up. The other options listed do not demonstrate a clear choice between different alternatives and therefore do not involve an opportunity cost.

An Example of Opportunity Cost Is the