The opportunity cost and trade-offs of the small business owner choosing to buy groceries through the premium home delivery service include the cost of the service itself, which is significantly more than buying groceries in the store. Additionally, the small business owner would have to sacrifice the time and effort of going to the store to purchase groceries.
On the other hand, if the small business owner were to choose buying groceries in the store, the opportunity cost and trade-offs would include the time and effort of going to the store, as well as the cost of the groceries themselves, which may be cheaper than the premium home delivery service. Additionally, the small business owner would have to sacrifice the convenience of having groceries delivered to their door.
I need help on this or could someone explain better for me to better understand what to do? this is economics.
-A busy small business owner is considering purchasing groceries through a premium home delivery service because of its convenience.
-The service provides the best groceries and costs significantly more than buying groceries in the store, but home delivery is an attractive feature.
-Examine the opportunity costs and trade-offs of the small business owner choosing to buy groceries through this premium home delivery service.
-Compare your findings with the opportunity costs and trade-offs if the small business owner were to choose buying groceries in the store instead.
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