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A person wants to buy a CD has just enough money to buy one, and chooses CD essay instead of cd B. What is cd B?

2 Answers

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Answer:

Let’s say we don’t know the amount of money he has so if he want to find out how much money he has so X=cd essay hope this helps

User Themisterunknown
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Answer:

opportunity cost

Step-by-step explanation:

The opportunity cost refers to something that an individual has to give up in order to get something else that he wants. It is linked to choice, renunciation and scarcity. For example, when watching a movie at the cinema, the person cannot use that time spent reading a book at home or that money spent on tickets to buy something else, such as a snack. Or, the time invested by a university student in a full-time college course could be used to work and earn money, so the opportunity cost of studying was an unearned income. Therefore, it is about the opportunity that the individual gives up to get another one.

In relation to the question shown above, CD B represents the cost opportunity, since the consumer, due to the limited money chooses CD essay instead of CD B.

User BritishSam
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