Question

A friend offers you a Coke, a Dr. Pepper, or a 7-Up. You don't like Coke, so after some thought, you take the Dr. Pepper. What is the opportunity cost of your choice?

Answer 1

An opportunity cost is the value or benefit that must be given up to acquire or achieve something else. In this case whatever you choose (Coke, Dr.Pepper or 7-UP) everything would be free , at zero cost. This means that the opportunity cost in this case is zero, because the drink is free.