Asked by Arvind Talan on Sep 23, 2024
Verified
You are at a restaurant deciding if you would like some dessert after the meal.The dinner is over so you do not want anything else but the dessert.The opportunity cost of getting the dessert would include
A) Nothing,because you are already there
B) Another round of appetizers possibly
C) Anything else you could buy
D) None of the above
Opportunity Cost
Forgoing the possibility of benefits from other options by selecting one specific choice.
Appetizers
Small dishes served before the main course of a meal to stimulate the appetite.
Dessert
A sweet course typically served at the end of a meal.
- Discern and detail the concept of opportunity cost as it pertains to choosing between alternatives.
Verified Answer
EA
Emily Agnew5 days ago
Final Answer :
C
Explanation :
The opportunity cost of a decision is the value of the next best alternative that you give up. In this case, choosing to spend money on dessert means you are foregoing the opportunity to spend that money on anything else, making C the correct answer.
Learning Objectives
- Discern and detail the concept of opportunity cost as it pertains to choosing between alternatives.