Maurice receives $100 as a birthday gift. In deciding how to spend the money, he narrows his options down to four choices, Option A, Option B, Option C, and Option D. Each option costs $100. Finally he decides on Option B. What is the opportunity cost of Option B?
A) the value to him of the Option he would have chosen if Option B were not available
B) the value to him of Options A, C, and D combined
C) $300
D) $100
Correct Answer:
Verified
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