Question

Complete the following table by computing the opportunity cost of juanita's time and the total cost of shopping at each location.

Answer 1

Based on the information given about the opportunity cost, the correct values will be:

Local Department Store 56 100 156

Across Town 84 86 170

Neighboring City 140 63 203

What is an opportunity cost?

An opportunity cost simply means the forgone benefit when an individual chooses another alternative.

From the complete question, it should be noted that when one wants to evaluate opportunity cost, the benefits and costs of each decision will be considered. The opportunity cost of Juanita's time and the total cost of shopping at each location is illustrated above.

Learn more about opportunity cost on:

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