Question

You are shopping at the local mall with an $80 gift certificate. Only three items catch your attention. The items include a Justin Bieber sheet set, a remote control helicopter, and an "Amazing Ab Belt." You would be willing to give up $60 for the sheets, $70 for the belt, and $80 for the helicopter. Knowing this, you decide to purchase the helicopter. The opportunity cost of the helicopter was:

Answer 1

The opportunity cost is enjoy the belt of $70.

Step-by-step explanation:

The cost of opportunity is the best alternative that you sacrifice when you choose an option. It represent the benefits that you misses out on when choosing one alternative over another.

In this case, the opportunity cost is enjoy the belt of $70.