Question

FOR A MEDAL

Answer 1

You want to buy a new cell phone that costs $80 and two new video games that cost $40 each, but you don't have enough money saved for all of it. Which of the following best describes the opportunity costs involved in your purchase decision?

If you buy a new cell phone, your opportunity cost is the money you spend to purchase the phone.

If you buy two new games, your opportunity cost is the money you spend to purchase the games.

If you buy a new cell phone, your opportunity cost is the time you could spend talking on the phone.

If you buy two new games, your opportunity cost is the time you could spend talking on the phone.

Answer 2

it looks like it is D, because the opportunity loss is defined as "the loss of potential gain from other alternatives when one alternative is chosen" and a potential gain of having a phone is getting to talk on it, and that gain is lost when you choose the alternative of buying the games. (:

Answer 3

alright thanks :D