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algol13
3 years ago
6

Abby received requests from three families to babysit a toddler for four hours on friday night. she can only babysit for one of

the three families. the fleming family offered her $20, the gilbert family offered her $30, and the lewis family offered her $40. if abby chooses to babysit for the lewis family her opportunity cost of this decision is:
Business
1 answer:
iren2701 [21]3 years ago
5 0
<span>In this case the opportunity cost is $30. Opportunity cost is the cost of forgoing the best available alternative for making a particular choice. In this case, the best alternative to Lewis family gift is the gift offered by Gilbert family and hence the opportunity cost is $30 which is the price of the gift offered by Gilbert.</span>
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Hope that helps.

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