Assume that Rudolf withdraws $600 from his bank account which was earning him 10 percent interest per annum to buy a high-end digital camera.The bank interest forgone by him will be the opportunity cost of this purchase.

Question

Quizplus · Accepted Answer

Since Rudolf withdrew $600 from his bank account, he will no longer earn interest on that amount, which is the opportunity cost of his purchase. Therefore, the statement is true.

Assume That Rudolf Withdraws $600 from His Bank Account Which