Leslie is at the store with $60 in her purse. She sees two shirts that she wants that each cost $25. There is also a jacket she wants that costs $55. What best describes the opportunity cost and benefit of buying the shirts?

The opportunity cost is $50 for the shirts; the benefit is that she has a couple of nice shirts to wear.

The opportunity cost is the jacket; the benefit is that she has two shirts.

The opportunity cost is that she cannot afford the jacket; the benefit is that she saved $55.

The opportunity cost is $50; the benefit is that she still has $10.

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25 August, 18:13

Leslie is at the store with $60 in her purse. She sees two shirts that she wants that each cost $25. There is also a jacket she wants that costs $55. What best describes the opportunity cost and benefit of buying the shirts?

The opportunity cost is $50 for the shirts; the benefit is that she has a couple of nice shirts to wear.

The opportunity cost is the jacket; the benefit is that she has two shirts.

The opportunity cost is that she cannot afford the jacket; the benefit is that she saved $55.

The opportunity cost is $50; the benefit is that she still has $10.

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Answers (1)

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Dex · Answer 1

The opportunity cost is the jacket; the benefit is that she has two shirts.

Opportunity cost is the cost of the alternative forgone in choosing the other alternative.

She chose to buy the shirts. In doing so, she gave up the chance of buying the jacket. Thus, the forgone alternative is the jacket. It is the cost of lost opportunity when she opted to buy the shirts at $25 each.