Ask Question
28 November, 18:07

Susan can bake 200 cookies in an hour or watch her favorite tv show. If she chooses to watch her show, her opportunity cost is

+3
Answers (1)
  1. 28 November, 19:06
    0
    200 cookies

    Explanation:

    The concept of opportunity cost arises as a result of the limited resources available to satisfy the unlimited human wants.

    Opportunity cost is the cost or worth of the item forgone from the list of wants. Hence is is also called real cost or opportunity foregone.

    The scale of preference ranks the wants in the order of preference.

    If the resources available can only satisfy the first want, the second on the list is the opportunity cost.

    As such, Susan's opportunity cost is the 200 cookies she failed to bake.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Susan can bake 200 cookies in an hour or watch her favorite tv show. If she chooses to watch her show, her opportunity cost is ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers