While buying refreshments for an upcoming party, you notice that a six-pack of Americana Beer costs $2 and a six-pack of Bavarian Beer costs $4. You buy the six-pack of Bavarian Beer, although you wonder if maybe two six-packs of Americana Beer would have been a better choice. The opportunity cost of the Bavarian Beer is

two six-packs of Americana Beer T/F

Question

Mathematics

America Keller

5 January, 14:31

While buying refreshments for an upcoming party, you notice that a six-pack of Americana Beer costs $2 and a six-pack of Bavarian Beer costs $4. You buy the six-pack of Bavarian Beer, although you wonder if maybe two six-packs of Americana Beer would have been a better choice. The opportunity cost of the Bavarian Beer is

two six-packs of Americana Beer T/F

+3

Answers (1)

Know the Answer?

Shania Short · Answer 1

Answer: True

Step-by-step explanation: Opportunity cost is defined as the value of the best alternative given up in making a choice.

From the above question, the opportunity cost of buying two six pack of Bavarian beer is the two six pack of American beer that was not bought.