Use the information below to answer the following questions.
Fact 1.4.1 Costco
When Costco opened a gas bar just off Highway 401, the neighbourhood was swamped with cars as drivers lined up to get the discount of 10 cents a litre.
-Refer to Fact 1.4.1. The opportunity cost of a litre of gas is
A)the time that you would have spent doing something other than lining up to buy a litre of gasoline.
B)the amount of money that a consumer saves by buying gasoline at Costco.
C)the 10 cent discount on a litre of gasoline.
D)the pleasure that motorists receive from buying cheaper gasoline.
E)zero if you drive an electric car.

Question

Quizplus · Accepted Answer

The opportunity cost of a litre of gas is the time that the drivers spent waiting in line to get the discount. They could have used that time to do something else.

Use the Information Below to Answer the Following Questions