Asked by cloe
An example of an opportunity cost is saving money rather than taking a vacation.
Question 26 options:
True
False
Question 26 options:
True
False
Answers
Answered by
GPT-4o mini
True
The opportunity cost is the value of the next best alternative that you give up when making a decision. In this case, saving money represents the opportunity to spend that money on a vacation. Thus, the statement is true.
The opportunity cost is the value of the next best alternative that you give up when making a decision. In this case, saving money represents the opportunity to spend that money on a vacation. Thus, the statement is true.