What is the opportunity cost in this scenarlo?
Harry has been very busy at work for the past
two weeks. He has been working weekends too. Finally, he is going to get a weekend off.
Originally, he planned to paint his apartment that weekend. He also considered going fishing for the weekend.
But then his parents called and asked him to come for dinner because It has been a while since they have seen each other.
Later on, his friend Theo Informed him about a surprise birthday party for another friend. Theo plans to reserve a room at a restaurant for the
celebration, with the cost to reserve the room spilt between Theo, Harry, and three other friends.
Now Harry is confused about what he should do over the weekend. He decides that, for him, the most Important commitments are going over to
his parent's house and attending his friend's birthday party. In the end, Harry decides to see his parents.

Question

20-08-2022
Social Studies

contestada

What is the opportunity cost in this scenarlo?
Harry has been very busy at work for the past
two weeks. He has been working weekends too. Finally, he is going to get a weekend off.
Originally, he planned to paint his apartment that weekend. He also considered going fishing for the weekend.
But then his parents called and asked him to come for dinner because It has been a while since they have seen each other.
Later on, his friend Theo Informed him about a surprise birthday party for another friend. Theo plans to reserve a room at a restaurant for the
celebration, with the cost to reserve the room spilt between Theo, Harry, and three other friends.
Now Harry is confused about what he should do over the weekend. He decides that, for him, the most Important commitments are going over to
his parent's house and attending his friend's birthday party. In the end, Harry decides to see his parents.

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Tundexi Tundexi · Answer 1 · 2022-08-24T18:26:47+02:00

The opportunity cost in this scenarlo is that "Later on, his friend Theo Informed him about a surprise birthday party for another friend. Theo plans to reserve a room at a restaurant for the celebration, with the cost to reserve the room spilt between Theo, Harry, and three other friends."

What is an opportunity cost?

This refers to the cost of not being able to do other things with time and resources because of doing the chosen activity.

In this question context, the opportunity cost exist when "Later on, his friend Theo Informed him about a surprise birthday party for another friend. Theo plans to reserve a room at a restaurant for the celebration, with the cost to reserve the room spilt between Theo, Harry, and three other friends."

Therefore, the Option D is correct.