Asked by RMerline Benjamin on May 23, 2024
Verified
Refer to Scenario 1-2. What is your opportunity cost of working?
Opportunity Cost
The detriment of neglecting the next optimal alternative during the process of making a decision.
- Assess the cognitive foundations of consumer choices and the idea of opportunity cost.
Verified Answer
MB
Mariaesther BritoMay 27, 2024
Final Answer :
The enjoyment you would have received from going to the movies with your friend.
Learning Objectives
- Assess the cognitive foundations of consumer choices and the idea of opportunity cost.