Question

Jessica is trying to decide between a trip to SeaWorld or a cruise to the Bahamas. If Jessica chooses the trip to SeaWorld, then what is the opportunity cost of this decision?(1 point)
Responses

The opportunity cost is the consumer’s benefit from purchasing the trip to SeaWorld.
The opportunity cost is the consumer’s benefit from purchasing the trip to SeaWorld.

The opportunity cost is the difference between the benefit from going to Sea World and the benefit from going on the cruise.
The opportunity cost is the difference between the benefit from going to Sea World and the benefit from going on the cruise.

The opportunity cost is the consumer’s benefit from purchasing the cruise to the Bahamas.
The opportunity cost is the consumer’s benefit from purchasing the cruise to the Bahamas.

The opportunity cost is the difference in price between the trip to SeaWorld and the cruise to the Bahamas.

Answer 1

The opportunity cost is the consumer’s benefit from purchasing the cruise to the Bahamas.

Reason: Opportunity cost is the value of the next-best alternative forgone — if she picks SeaWorld, she gives up the benefits she would have gotten from the cruise.