Monday 4 June 2012

Maurice receives $100 as a birthday gift. In deciding how to spend the money,

Maurice receives $100 as a birthday gift. In deciding how to spend the money, he narrows his options down to four choices: Option A, Option B, Option C, and Option D. Each option costs $100. Finally he decides on Option B. The opportunity cost of this decision is __________.
A.  the value to Maurice of Options A, C and D combined
B.  the value to Maurice of the option he would have chosen had Option B not been available
C.  $100
D.  $300

No comments:

Post a Comment

Note: only a member of this blog may post a comment.