Opportunity Cost Answers

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?

How does a production possibility chart assist in outlining opportunity cost?

Producers can create their maximum combination of goods, as long as they

ABC

Look at the equation framework.

Which of the following illustrates an opportunity cost?

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

Demonstrating opportunity cost is done through production