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Fact 1.4.1 Costco
When Costco opened a gas bar just off Highway 401, the neighbourhood was swamped with cars as drivers lined up to get the discount of 10 cents a litre.
-Refer to Fact 1.4.1.The opportunity cost of a litre of gas includes

Question

Quizplus · Accepted Answer

Opportunity cost refers to the benefits forgone by choosing one option over another. In this case, the opportunity cost of buying gas at Costco with a 10 cent discount is the time spent waiting in line to get that discount, which could have been used for other activities. Therefore, the correct choice is B.

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