Question

Mapoob Sapling Learning macmilan learning Label each scenario by deciding whether opportunity cost has increased or decreased. Emily is deciding between her two favorite restaurants. One makes Indian food and the other makes Chinese food. The Indian restaurant has just raised its prices. The opportunity cost of Chinese food has Jacob has a bagel or a muffin for breakfast. Muffins are on sale so they cost $1 less than usual. The opportunity cost of eating a bagel has: Taylor has to take time off work to study. Since her wage has increased from $10 per hour to $15 per hour, the opportunity cosť of studying has: Justin decides to take the bus to school instead of driving to school. The rice of gasoline has just decreased. The opportunity cost of taking the bus Increased Decreased

Answer 1

(a) The opportunity cost of Chinese food has decreased because Indian restaurant raises its price, so Chinese food is more affordable and indian food become expensive.

(b) The opportunity cost of eating a bagel has increased because the price of muffins falls.

(c) The opportunity cost of studying has increased because his wages increases from $10 to $15, so now he have to foregone more money income than before.

(d) The opportunity cost of taking the bus has increased because bus travel becomes more affordable or cheaper due to lower gasoline prices.