Question 1 Opportunity Cost (12 points) John is given $200 and spends the $200 on dinner. John's next best alternative is to spend $200 for a new computer which is on sale from its usual price of $300. The most John would be willing to pay for the computer is $300. John values the dinner at $400. (a) What is the opportunity cost of the dinner? Explain your answer. (b) If John values the dinner at $350, what happens to the opportunity cost? Explain your answer. (c) If John spends $225 on the dinner (instead of $200), what happens to the opportunity cost? Explain your