Ben goes on a shopping trip for a road trip. He only has $20 to spend. He wants to buy sunglasses, magazines, a video game, and some snacks. Since he cannot buy everything with $20, Ben decides to purchase the snacks and sun glasses. What is the opportunity cost of his purchase? Select the TWO correct answers.
Video Game
Snacks
Magazines
Sunglasses
The opportunity cost is the value of the next best alternative that Ben gave up by choosing to purchase the snacks and sunglasses. In this case, the next best alternatives are the video game and the magazines. Therefore, the correct answers are:
- Video Game
- Magazines