To earn summer money,Joe could mow lawns in his neighborhood,or he could work at a local grocery store.Which of the following is an opportunity cost of mowing lawns?

Question

Quizplus · Accepted Answer

The opportunity cost of mowing lawns is the wages he could have earned working at the grocery store. This is because Joe has a limited amount of time to work and every hour he spends mowing lawns, he is giving up the opportunity to earn wages at the grocery store. Option A is a cost of mowing lawns but not an opportunity cost. Option B is the actual cost of mowing lawns, not an opportunity cost. Option D is a cost associated with owning a lawnmower, but not an opportunity cost.

To Earn Summer Money,Joe Could Mow Lawns in His Neighborhood,or