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andrezito [222]
3 years ago
11

The five-dollar Burger Joint gift card that your friend gave you for your birthday expires today. You can either use the gift ca

rd to buy yourself dinner at Burger Joint, or you can stay home and eat a delicious home-cooked meal.
Social Studies
1 answer:
dimaraw [331]3 years ago
7 0

The following is missing for the question to be complete: <em>What is the opportunity cost of eating the home-cooked meal?</em>

Answer:     The value of the ingredients that go into the home-cooked meal and the value of a five-dollar dinner at Burger Joint

Explanation:  Opportunity cost is a value that is lost when a particular choice is made, and in doing so, a certain value of money is lost due to the non-choice of another alternative, thereby losing the benefit of the alternative choice. This means that if we have a $ 5 coupon to dine at Burger Joint but don't do it, we're having dinner with the ingredients we have to make a home-cooked meal, we also lose the money needed for home-cooked ingredients and lose the coupon for Burger Joint because it expires today. So the total cost, i.e opportunity cost, is both the value of the Burger Joint coupon and the value of the ingredients for home-made meal, because if we had chosen the alternative of having dinner at Burger Joint, the coupon would not have failed due to expiration today, we would have used it, and not spent money for home-made ingredients.

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