Question

The opportunity cost of buying a candy bar for one dollar rather than a bag of chips for one dollar is the bag of chips.

Answer 1

Answer:

A. True

Explanation:

Answer 2

The given statement "The opportunity cost of buying a candy bar for one dollar rather than a bag of chips for one dollar is the bag of chips" is true.

Answer: Option A

Explanation:

When we compromise over one thing at the cost of losing it, we actually unknowingly pay a compromising cost. This compromising cost is termed as 'opportunity cost' when we trade off the opportunity of having one thing in order to choose the other thing available.

In the given case, buying a candy bar priced at one dollar instead of buying a bag of chips at the same price made the buyer lose his 'opportunity' to buy the bag of chips. In other words, he paid a dollar and the opportunity to buy the bag of chips to have the candy bar.