The opportunity cost of one more slice of pizza in terms of sodas is the
A) number of pizza slices we have to give up in order to get one extra soda.
B) number of sodas we have to give up in order to get one extra pizza slice.
C) total number of sodas that we have divided by the total number of pizza slices that we have.
D) total number of pizza slices that we have divided by the total number of sodas that we have.
E) price of a pizza slice minus the price of a soda.

Question

Quizplus · Accepted Answer

The opportunity cost is the value of the next best alternative that we have to give up in order to pursue a certain action. In this case, if we decide to have one more slice of pizza, we have to give up a certain number of sodas. Therefore, the opportunity cost of one more slice of pizza is the number of sodas we have to give up in order to get one extra pizza slice.

The Opportunity Cost of One More Slice of Pizza in Terms