Question
You have $50 to spend and are considering buying the following items:
Item A: $20
Item B: $15
Item C: $25
Item D: $10
If you decide to buy Item A, Item B, and Item D, what is the opportunity cost of your decision?
(1 point)
Responses
Item A
Item A
Item B
Item B
Item C
Item C
Item D
Item D
Skip to navigation
Item A: $20
Item B: $15
Item C: $25
Item D: $10
If you decide to buy Item A, Item B, and Item D, what is the opportunity cost of your decision?
(1 point)
Responses
Item A
Item A
Item B
Item B
Item C
Item C
Item D
Item D
Skip to navigation
Answers
GPT-4o mini
If you decide to buy Item A ($20), Item B ($15), and Item D ($10), your total spending would be $20 + $15 + $10 = $45.
This means you have spent $45 out of your $50 budget, leaving you with $5. If you had not chosen to buy Item C ($25), it represents the opportunity cost of your decision, as you are forgoing the chance to purchase Item C with the money you spent on the other items.
Thus, the opportunity cost of your decision is **Item C**.
This means you have spent $45 out of your $50 budget, leaving you with $5. If you had not chosen to buy Item C ($25), it represents the opportunity cost of your decision, as you are forgoing the chance to purchase Item C with the money you spent on the other items.
Thus, the opportunity cost of your decision is **Item C**.