Answered

A consumer must decide between purchasing a new television or a new computer. If the consumer chooses the television, then what is the opportunity cost of this decision?

A. The opportunity cost is the consumer's benefit from purchasing the television.
B. The opportunity cost is the consumer's benefit from purchasing the computer.
C. The opportunity cost is the difference in price between the television and computer.
D. The opportunity cost is the difference between the benefit from purchasing the television and the benefit from purchasing the computer.



Answer :

GinnyAnswer

Final answer:

Opportunity cost is the value of the next best alternative given up when making a decision.


Explanation:

Opportunity cost refers to the most desirable alternative that is given up when a decision is made. In this case, if a consumer chooses to purchase a new television over a new computer, the opportunity cost would be the benefit from purchasing the computer. It represents the value of the next best alternative that was foregone.


Learn more about Opportunity Cost here:

https://brainly.com/question/37051624


Other Questions