Question

Select the correct text in the passage. What is the opportunity cost in this scenario? Mikael has saved $4,000 for his trip to Brazil. He has calculated that his total transportation expenses will be $1,

asked Apr 20, 2023 71.6k views

Select the correct text in the passage.

What is the opportunity cost in this scenario?
Mikael has saved $4,000 for his trip to Brazil. He has calculated that his total transportation expenses will be $1,000. The hotel will cost him
another $1,500. He will spend about $500 on food He plans on spending the remaining $1,000 for sightseeing and buying souvenirs.
While booking his plane ticket, he realizes that the price has gone up. His total transportation expenses will go up by $200. He realizes that he
cannot cancel his hotel reservation. He also doesn't want to go cheap on food. Finally, he decides to give up visiting the popular Ouro Preto
during his stay in Brazil.
Reset
Next

Akshaynhegde asked

by Akshaynhegde

5.2k points

1 Answer

Ask a Question

0 Comments

Please log in or register to add a comment.

Please log in or register to answer this question.

1 Answer

0 Comments

Please log in or register to add a comment.

Other Questions