Ask Question
4 April, 04:00

Bill has $10 to spend on a Superman, Batman, or an X-Men T-shirt. Bill buys the Superman T-shirt and the Batman shirt was a close second choice. What is the opportunity cost?

+2
Answers (1)
  1. 4 April, 07:13
    0
    Opportunity Cost = Batman Shirt

    Explanation:

    Opportunity Cost is the coat of next best alternative forgone while making a choice.

    Eg: Working as a teacher with salary Rs 20000, if a teacher sacrifises private coaching income = Rs 15000. Latter (Rs 15000) is the next best alternative forgone while choosing school teaching.

    Similarly, Bill choosing Superman T-shirt has opportunity cost as value of his second best choice foregone i. e Batman T-shirt
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Bill has $10 to spend on a Superman, Batman, or an X-Men T-shirt. Bill buys the Superman T-shirt and the Batman shirt was a close second ...” 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