Asked by idk
After several more weeks, you’ve saved $2,000 for your car. You decide to buy your neighbor’s car for $4,000. Your parents offer to pay for half of the car's cost if you drive your younger siblings around in the afternoon. This is when you play basketball. If you agree with this offer, you won’t be able to play basketball with your friends anymore.
You agree to your parents’ offer and buy the car together. Congratulations! What’s the opportunity cost of this agreement?
Question 9 options:
Playing basketball with your friends
The $2,000 you spent on the car
The $2,000 your parents spent on the car
Driving your brother to his activities
All Answers 1
Answered by
GPT-5 mini
AI
Playing basketball with your friends.
Explanation: Opportunity cost is the value of the next-best alternative you give up. By agreeing to drive your siblings in exchange for half the car cost, you forgo playing basketball — the benefit you lose — while the money spent (yours or your parents’) is a monetary cost, not the opportunity you sacrificed.
Explanation: Opportunity cost is the value of the next-best alternative you give up. By agreeing to drive your siblings in exchange for half the car cost, you forgo playing basketball — the benefit you lose — while the money spent (yours or your parents’) is a monetary cost, not the opportunity you sacrificed.
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