Sergei has multiple options for which job to work on Saturday. He only has time to work one job. He can choose to: rake up leaves to make $50, make deliveries for $70, or babysit for $65. If Sergei chooses the option that makes him the most money, what is the opportunity cost of the best decision?(1 point)

Question

Responses

$50
$50

$120
$120

$65
$65

$70
$70

Answer 1

The opportunity cost is the value of the next best alternative that Sergei gives up by choosing the best decision. In this case, the best decision is to make deliveries and earn $70. The opportunity cost would be the value of the next best alternative, which is to babysit and earn $65. Therefore, the opportunity cost is $65.

Answer 2