Asked by Khyreus Prophet-Leahman on Sep 23, 2024
You are at an all-you-can-eat-buffet.You feel almost full.However they just brought out your favorite dessert and you can either choose to eat that or a helping of tapioca pudding.If you choose the cupcakes,the pudding would be your
A) Opportunity cost
B) Variable cost
C) Fixed cost
D) Sunk cost
Opportunity Cost
The cost of choosing one option over another, representing the value of the foregone alternative that wasn't chosen.
Variable Cost
Costs that vary directly with the level of production or service delivery, such as materials and labor costs.
Tapioca Pudding
A sweet dessert made from tapioca pearls, milk or cream, sugar, and often flavored with vanilla, coconut, or other ingredients.
- Detect and interpret the concept of opportunity cost in the process of decision-making.
Learning Objectives
- Detect and interpret the concept of opportunity cost in the process of decision-making.