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earnstyle [38]
2 years ago
5

2

Advanced Placement (AP)
1 answer:
Gala2k [10]2 years ago
4 0

The information provided best describes an example of: relative value because he is comparing the value of the floor mats relative to the value of the car.

<h3>What is an opportunity cost?</h3>

An opportunity cost is also referred to as alternative forgone and it can be defined as the value, profit or benefits that are given up and forfeited by an individual or business firm, in order to choose or acquire something that is deemed most significant over other available choices, at a particular point in time.

In this scenario, we can infer and logically deduce that the information provided best describes an example of relative value because AJ is comparing the value of the floor mats which cost $250, relative (with respect) to the value of the car, which cost $24,000.

Read more on opportunity cost here: brainly.com/question/8846809

#SPJ1

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