You decide to purchase a new car for $12,000. Upon driving the car off of the lot, the resale value of the car falls to $9,000. The opportunity cost of purchasing the car is __________ and the opportunity cost of using the car is __________.
A)$12,000 and $9,000
B)$12,000 and $3,000
C)Unknown and $9,000
D)Unknown and $3,000

Question

Quizplus · Accepted Answer

The Answer of You decide to purchase a new car for $12,000. Upon driving the car off of the lot, the resale value of the car falls to $9,000. The opportunity cost of purchasing the car is __________ and the opportunity cost of using the car is __________.
A)$12,000 and $9,000
B)$12,000 and $3,000
C)Unknown and $9,000
D)Unknown and $3,000

You Decide to Purchase a New Car for $12,000