Question

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)

Answer 1

[AI-generated answer — Bot GPT 3.5]

The opportunity cost of the small business owner choosing to buy groceries through the premium home delivery service is the higher cost of the groceries compared to buying them in the store. The trade-off is the convenience and time saved by not having to go to the store to purchase the groceries. If the small business owner were to choose buying groceries in the store instead, the opportunity cost would be the time spent going to the store and sourcing the groceries themselves, while the trade-off would be the lower cost of the groceries.