A cost to the consumer of purchasing the item is The opportunity cost of time spent looking for stores selling the desired item The correct answer is d).
In addition to the price of the desired item, there are other costs that a consumer may incur when purchasing an item. These costs can be broadly categorized into monetary costs and non-monetary costs.
The opportunity cost of time is the value of the next best alternative use of that time. When you spend time looking for stores selling the desired item, you are giving up the opportunity to do something else that you value, such as working, studying, or relaxing.
The other options are not opportunity costs. The time and effort spent researching the product is an investment in your decision-making, and the enjoyment of using the good is a benefit of the purchase.
the complete question:
In addition to the price of the desired item, which of the following is also a cost to the consumer of purchasing the item?
a) The time and effort spent researching the product as well as its various sellers
b) The enjoyment of using the good
c) The cost of returning a defective product
d) The opportunity cost of time spent looking for stores selling the desired item
The answer is d) The opportunity cost of time spent looking for stores selling the desired item.