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  • Opportunity Cost - Exercise

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    Tao R
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    Mary and John each spent a day in line and $138 to purchase a $20 Olympic memorial banknote last summer. The statement that Mary and John's opportunity costs would be the same is not definitely correct because their opportunity costs could be different depending on their individual situations and alternatives forgone. Opportunity cost refers to the next best alternative given up in order to pursue a certain action.

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    Mary and John each spent a day in line and $138 to purchase a $20 Olympic memorial banknote last summer. The statement that Mary and John's opportunity costs would be the same is not definitely correct because their opportunity costs could be different depending on their individual situations and alternatives forgone. Opportunity cost refers to the next best alternative given up in order to pursue a certain action.

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    15 views1 page

    Opportunity Cost - Exercise

    Uploaded by

    Tao R
    Mary and John each spent a day in line and $138 to purchase a $20 Olympic memorial banknote last summer. The statement that Mary and John's opportunity costs would be the same is not definitely correct because their opportunity costs could be different depending on their individual situations and alternatives forgone. Opportunity cost refers to the next best alternative given up in order to pursue a certain action.

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    F4

    web-homework-opportunity cost name:_________( )


    09-01. Advanced
    Last summer, Mary and John each bought a $20 Olympic memorial banknote. Each of them had to pay $138 and
    queue up for a whole day for the purchase.
    (a) Define opportunity cost. (2 marks)
    (b) "Mary's opportunity cost of purchasing the Olympic memorial banknote would be the same as John's."
    Explain whether this statement is definitely correct. (2 marks)

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    ***Please finish multiple choice questions in Schoology***
    ###Please rename your homework sheet before you upload it to google classroom<Class number +
    Chinese name + topic name>###

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