Kei's employer provides a free lunch for all employees on the last day of every month. Each employee can choose one sandwich, one drink, and one cookie. The cookie options are chocolate chip and oatmeal raisin. The opportunity cost of Kei choosing a chocolate chip cookie is:

Question

Quizplus · Accepted Answer

The opportunity cost of choosing one option over another is the value of the option not chosen. In this case, by choosing a chocolate chip cookie, Kei foregoes the enjoyment or value she would have gotten from an oatmeal raisin cookie.

Kei's Employer Provides a Free Lunch for All Employees on the Last