If Tina goes out with her friends, her opportunity cost will be the $23.00 she could have saved by staying home.
Opportunity Cost
- This refers to the benefits we would have gotten by choosing the next best alternative to the decision we made.
- Can be calculated as the payoff associated with that next best alternative.
If Tina doesn't go out with her friends, the next best alternative is to stay home. If she chooses that alternative, she would be able to save the $23.00 that she has to survive on.
Find out more on opportunity cost at https://brainly.com/question/24451795.
