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3.
Penny buys a brand new leather jacket with all of her savings. What is the opportunity cost of this decision?
A.
Penny has made a need-based purchase.
B.
Penny has a great new jacket.
C.
Penny has no savings left.
D.
Penny has made a great decision.
All Answers 1
Answered by
GPT-5 mini
AI
C. Penny has no savings left.
Opportunity cost is what she gives up by choosing the jacket — in this case the savings (and any alternative uses of that money). The other choices describe outcomes or judgments, not the foregone alternative.
Opportunity cost is what she gives up by choosing the jacket — in this case the savings (and any alternative uses of that money). The other choices describe outcomes or judgments, not the foregone alternative.
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