Table 2.2
$$\begin{array} { | l | l | l | l | l | l | }
\hline \text { Option } & \mathrm { A } & \mathrm { B } & \mathrm { C } & \mathrm { D } & \mathrm { E } \
\hline \text { Amount } & \$ 100 & \$ 50 & \$ 25 & \$ 15 & \$ 0 \
\hline
\end{array}$$
-Refer to Table 2.2. You have $100 to spend and five options to choose from. What is the opportunity cost of choosing option D when you really wanted option B?

Question

Table 2.2
 $$\begin{array} { | l | l | l | l | l | l | } 
\hline \text { Option } & \mathrm { A } & \mathrm { B } & \mathrm { C } & \mathrm { D } & \mathrm { E } \
\hline \text { Amount } & \$ 100 & \$ 50 & \$ 25 & \$ 15 & \$ 0 \
\hline
\end{array}$$
-Refer to Table 2.2. You have $100 to spend and five options to choose from. What is the opportunity cost of choosing option D when you really wanted option B?

Quizplus · Accepted Answer

The opportunity cost of choosing option D when you really wanted option B is the value of option B that you gave up. In this case, option B costs $50, so the opportunity cost of choosing option D instead of option B is $50. Therefore, the best choice is option C, which has a value of $25, since it is the next highest value option after option B but does not incur as high of an opportunity cost.

Table 22 -Refer to Table 2