The first and the second option might be possible to choose from. If Juanita chooses the first choice, she will save more travel time to the store, yet she has to pay more. Yet, if Juanita chooses the second one, she will pay less money but have to spend more time to travel to the store.
EXPLANATION
Some people think that deciding an opportunity cost is hard. In fact, it might be easy for others to decide the opportunity cost. The key to deciding the best opportunity cost is knowing what we want and what is a matter more.
In the case of Juanita, she has two options; save more time to travel or save more money to buy the skirt. If she wants to save more money to buy the skirt, she should choose the second option because of the price of the skirt in the store across the town is cheaper than the one in the local department store. Yet, if she takes the second option, she will lose more time to travel since the store across town requires her to travel for 30 minutes. It takes 15 more minutes to travel to the store across the town than to the local department store.
If Juanita wants to save more time to travel to buy the skirt, she should choose the first option since it requires her to travel for just 15 minutes to the local department store. Yet, the consequence is, she has to spend more money to buy the skirt because the price of the skirt in that local department store is more expensive than the second option, in the store across the town.
In conclusion, it is up to Juanita whether she will take the first option or the second option because both of those options have its own opportunity cost. If she wants to spend less money, she can go to the store across the town. If she wants to spend less time to travel, she can choose the first option.
LEARN MORE:
If you’re interested in learning more about this topic, we recommend you to also take a look at the following questions:
1. Suppose your friend is strong on defense and insists we must bolster our national defense, whatever the cost. how can you use economic logic to make him or her aware of the opportunity costs with his or her objective? brainly.com/question/4547111
2. What is the opportunity cost of saving money to purchase a car? brainly.com/question/3132208
KEYWORDS: opportunity cost, deciding opportunity cost, chosing opportunity cost
Subject: Social Studies
Class: College
Sub-chapter: Opportunity cost