Question
Ricardo works part time at a local computer store. One day, his manager approaches him about moving from cashier to floor supervisor. Ricardo is excited because the promotion comes with a raise; however, the extra work hours would take away from time with his friends and family. In the end, he decides to take the promotion.
What is Ricardo’s opportunity cost?
losing extra time to spend with his friends and family
being able to use the extra money for summer football camp
losing the ability to spend any time with his family
receiving another promotion in six months
What is Ricardo’s opportunity cost?
losing extra time to spend with his friends and family
being able to use the extra money for summer football camp
losing the ability to spend any time with his family
receiving another promotion in six months
Answers
GPT-4o mini
Ricardo's opportunity cost in this situation is **losing extra time to spend with his friends and family**. Opportunity cost refers to what he gives up in order to make a choice, and in this case, the choice to take the promotion means sacrificing time with loved ones. The other options do not directly represent the most significant trade-off he faces.