Refer to the figure below. For Chris, the opportunity cost of removing one bag of trash is planting:
A)25 bulbs.
B)1/25 of a bulb.
C)3 bulbs.
D)1/3 of a bulb.

Question

Refer to the figure below. For Chris, the opportunity cost of removing one bag of trash is planting:  
A)25 bulbs. 
B)1/25 of a bulb. 
C)3 bulbs. 
D)1/3 of a bulb.

Quizplus · Accepted Answer

The opportunity cost is the value of the next best alternative that is given up when a choice is made. In this case, Chris has two options: remove one bag of trash or plant bulbs. If Chris removes one bag of trash, he gives up the opportunity to plant bulbs. The question tells us that the opportunity cost of removing one bag of trash is planting 3 bulbs. Therefore, the best choice is C- Chris must give up planting 3 bulbs for every bag of trash he removes.

Refer to the Figure Below