You have $1 to spend on a vending machine snack.A bag of chips will cost you $1 and a candy bar will also cost you $1.If you choose the bag of chips,the opportunity cost of buying the chips would be:
A) $1 plus the enjoyment you would have received from the candy bar.
B) $2 minus the enjoyment you would have received from the bag of chips.
C) $1.
D) the enjoyment you would have received from the candy bar.

Question

Quizplus · Accepted Answer

The opportunity cost is the value of the next best alternative foregone, which in this case is the enjoyment from the candy bar.

You Have $1 to Spend on a Vending Machine Snack