Kyle Burroughs has decided to put $30 more per week in his savings account.He knows this will reduce his ability to go out to eat each week but thinks building his emergency fund is important.This would be an example of:

Question

Quizplus · Accepted Answer

Kyle Burroughs' decision to save an additional $30 per week at the expense of going out to eat represents an opportunity cost. This is because he is giving up something (the opportunity to dine out) in order to gain something else (a larger emergency fund).

Kyle Burroughs Has Decided to Put $30 More Per Week