Opportunity Cost Answers

Look at the equation framework.

Which of the following illustrates an opportunity cost?

Assessing opportunity cost involves

Which scenarios can be considered effects of Sole Sister Shoe Store choosing to sell dress shoes over sneakers? Select two answers.

On a production possibility curve, data points that fall outside of the curve represent

Which of the following are examples of limited resources on the part of consumers?

Which of the following has the largest impact on opportunity cost?

Opportunity cost occurs because of a producer’s need to

Ricardo works part time at a local computer store. One day, his manager approaches him about moving from cashier to floor supervisor. Ricardo is excited because the promotion comes with a raise; however, the extra work hours would take away from time with his friends and family. In the end, he decides to take the promotion.What is Ricardo’s opportunity cost?

One method for studying opportunity cost is to think in terms of