Related to the Economics in Practice on p. 6: The opportunity cost to Apple of having the hard drive produced in Japan by Toshiba is

A) the wages paid to Japanese workers.
B) the components of the hard drive which are not produced by Toshiba.
C) having the hard drive produced by the next best available company.
D) the value-added captured by Apple in the United States.

Opportunity Cost

The cost of forgoing the next best alternative when making a decision or choosing to invest resources in one option over another.

Hard Drive

A data storage device used for storing and retrieving digital information, typically using rapidly rotating disks coated with magnetic material.

Apple

A multinational technology company known for its consumer electronics, software, and services, famous for products like the iPhone and MacBook.