Question

Kevin has $20 to spend on summer clothes. He is looking at shirts, shorts, and flip-flops. Shirts are $10, shorts are $15, and flip-flops are $10. Which of the following statements best describes the opportunity costs and benefits of buying a shirt?


Select the best answer from the choices provided.

Answer 1

The opportunity cost is $10; the benefit is that he now has a shirt.
The opportunity cost is that he cannot afford the shorts; the benefit is that he now has a shirt.
The opportunity cost is $10; the benefit is that he saved $15.
The opportunity cost is that he cannot afford the shorts or the flip-flops; the benefit is that he saved $10.

Answer 2

Process of elimination, and tell me which you think it is.

Answer 3

i was thinking b cause the ten dollars is an actual cost opportunity cost would be something he cant get because he got a shirt

Answer 4

Go with your gut!