The opportunity cost of purchasing the jersey is the net value of the ball for the collector. Opportunity cost refers to the value of the next best alternative that must be forgone when making a decision. In this case, if the collector chooses to purchase the jersey, the next best alternative is the baseball that was struck for a home run, and its value is what the collector is giving up.
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 jersey, what is the opportunity cost?(1 point)
Responses
the net value of the jersey for the collector
the net value of the jersey for the collector
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
1 answer
1 answer