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You have $1 to spend on a vending machine snack. A bag of chips will cost you $1 and a candy bar will also cost

  • You have $1 to spend on a vending machine snack. A bag of chips will cost you $1 and a candy bar will also cost you $1. If you choose the bag of chips, the opportunity cost of buying the chips is:

    $1.
    $2 minus the enjoyment you received from the bag of chips.
    The enjoyment you would have received from the candy bar.
    $1 plus the enjoyment you would have received from the candy bar.

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