Answered

4. Which of the following is a good example of opportunity cost?
Taking a summer job instead of backpacking through Europe to save mone
Earning college credits in high school during DC classes
Buying wrapping paper the day after Christmas for 50% off
Finding $20 in a pair of jeans that went through the dryer



Answer :

GinnyAnswer

Final answer:

Opportunity cost is the value of the next best alternative foregone when a decision is made.


Explanation:

Opportunity cost is the most desirable alternative that is given up when making a decision. It represents what could have been gained by choosing a different option. For example, choosing to take a summer job instead of backpacking through Europe to save money incurs the opportunity cost of missing out on the travel experience.


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