Maria goes on a shopping trip to get ready for her vacation. She loads her cart with a bathing suit for $15.00, a sun hat for $8.00, magazines for $8.00, and a beach towel for $7.00. When she gets to the register, she realizes she only has $20.00 in her pocket.
Question
Use the passage to answer the question.
If Maria decides to purchase the sun hat and towel, what is the opportunity cost of her purchase? Select all that apply.
(1 point)
Responses
the sun hat
the sun hat
the towel
the towel
the magazines
the magazines
the bathing suit
The opportunity cost refers to the value of the next best alternative that is given up when making a choice. In this case, if Maria decides to purchase the sun hat and towel, the opportunity cost of her purchase would be the value of the next best alternative she could have chosen instead.
Therefore, the opportunity cost of her purchase would include:
- the bathing suit, as she could have chosen to purchase it instead of the sun hat and towel
- the magazines, as she could have chosen to purchase them instead of the sun hat and towel
So, the correct answers would be:
- the bathing suit
- the magazines