Suppose you had $1,000 to spend. If you spent it on a vacation trip rather than on

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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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Microeconomics

ISBN: 9780077641542

11th Edition

Authors: Stephen Slavin

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Question Posted: Feb 28, 2024 02:02 AM

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Suppose you had $1,000 to spend. If you spent it on a vacation trip rather than on

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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

Microeconomics

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