Suppose you had $1,000 to spend. If you spent it on a vacation trip rather than on
Question:
Suppose you had $1,000 to spend. If you spent it on a vacation trip rather than on new clothes, your second choice, or 1,000 lottery tickets, your third choice, what was your opportunity cost of going on a vacation trip?
a) $1,000
b) the vacation trip itself
c) not buying the new clothes
d) not buying the lottery tickets
e) missing out on the $10 million lottery prize
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The opportunity cost of going on a vacation trip is d not buying the lottery tickets Heres why Oppor...View the full answer
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