A busy small business owner is considering purchasing groceries through a premium home delivery service because of its convenience. The service provides the best groceries and costs significantly more than buying groceries in the store, but home delivery is an attractive feature. Examine the opportunity costs and trade-offs of the small business owner choosing to buy groceries through this premium home delivery service. Compare your findings with the opportunity costs and trade-offs if the small business owner were to choose buying groceries in the store instead. Write 3-5 sentences.(4 points)
The opportunity cost for the small business owner choosing the premium home delivery service is the extra money spent on the groceries. The trade-off is that the convenience of home delivery saves time and effort for the busy owner. On the other hand, if the owner were to choose buying groceries in the store, the opportunity cost would be the time spent going to the store and picking up the groceries. The trade-off in this case would be the lower cost of the groceries compared to the premium delivery service.
