Question
The five-dollar Burger Joint gift card that your friend gave you for your birthday expires today. You can either use the gift card to buy
The five-dollar Burger Joint gift card that your friend gave you for your birthday expires today. You can either use the gift card to buy yourself dinner at Burger Joint, or you can stay home and eat a delicious home-cookedmeal.
What is the opportunity cost of eating the home-cookedmeal?
The value of a five-dollar dinner at BurgerJoint.
The value of the ingredients that go into the home-cooked meal, and the value of a five-dollar dinner at BurgerJoint.
There is no opportunity cost since you did not pay for the giftcard.
The time it takes to eat your home-cooked meal, and the value of the five-dollar dinner at BurgerJoint.
The value of the ingredients that go into the home-cookedmeal.
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Economics of Money, Banking and Financial Markets
Authors: Frederic S. Mishkin
9th Edition
978-0321607751, 9780321599797, 321607759, 0321599799, 978-0321598905
