Related to the Economics in Practice on p. 6: The opportunity cost to Apple of having the hard drive produced in Japan by Toshiba is
A) the wages paid to Japanese workers.
B) the components of the hard drive which are not produced by Toshiba.
C) having the hard drive produced by the next best available company.
D) the value-added captured by Apple in the United States.

Question

Quizplus · Accepted Answer

The opportunity cost to Apple of having the hard drive produced in Japan by Toshiba is the value of the next best alternative foregone, which in this case would be having the hard drive produced by the next best available company.

Related to the Economics in Practice on P