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.
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 the two
correct answers.
(1 point)
The sun hat
the towel
the magazines
the bathing suit
The opportunity cost refers to the value of the next best alternative that is forgone when making a decision. In this case, if Maria decides to purchase the sun hat and towel, the opportunity cost would be the value of the next best alternatives that she did not purchase. Based on the passage, the next best alternatives would be the magazines and the bathing suit. Therefore, the correct answers are:
- the magazines
- the bathing suit