Bill has $10 to spend on a Superman, Batman, or an X-Men T-shirt. Bill buys the Superman T-shirt and the Batman shirt was a close second choice. What is the opportunity cost?

Question

Quizplus · Accepted Answer

The opportunity cost is the next best alternative that was foregone. In this case, the next best alternative was the Batman T-shirt, which was a close second choice. Therefore, the best choice would have been to purchase both the Superman and Batman T-shirts if possible.

Bill Has $10 to Spend on a Superman, Batman, or an X-Men