Pete receives $50 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 $50.Finally he decides on Option B.The opportunity cost of this decision is
A) the value to Pete of the option he would have chosen had Option B not been available.
B) the value to Pete of Options A,C and D combined.
C) $50.
D) $100.
Correct Answer:
Verified
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