Question

Which situation best describes an opportunity cost?
A. A business that develops a new technology is able to make a
larger profit.
B. A person who buys a new laptop doesn't have money to buy new
headphones.
C. A government increases taxes on all businesses operating in the
city
D. An employee who earns a college degree is given a pay raise.

Answer 1

Answer:The correct answer is B

Answer 2

When a person buys a new laptop and doesn't have money to buy new headphones is the best situation that describes the opportunity cost.

What is the opportunity cost?

The opportunity cost can be understood as the forgone cost of one thing against the completion of another thing. It is the amount or the cost that can be expenses over a single thing only.

In the given option only option B. shows that when a person buys new laptop that means the money of buying new headphones is considered as the opportunity cost.

Learn more about opportunity cost, here:

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