The opportunity cost of choosing to purchase the baseball instead of the hockey jersey is the net value of the jersey for the collector. Opportunity cost refers to the value of the next best alternative that is foregone when a choice is made. In this case, if the collector decides to buy the baseball, they give up the opportunity to buy the jersey, and its value for them represents the opportunity cost of that decision.
A sports collector is considering the purchase of either a hockey jersey or a baseball that was struck for a home run. If the collector chooses to purchase the baseball, what is the opportunity cost?(1 point)
Responses
the net value of the ball for the collector
the net value of the ball for the collector
the cost of the jersey
the cost of the jersey
the cost of the ball
the cost of the ball
the net value of the jersey for the collector
1 answer
1 answer