QUESTION 7 3.45 points Save Which of the following is an opportunity cost of att

Question

QUESTION 7 3.45 points Save Which of the following is an opportunity cost of attending college? O a the cost of the food that you consume Ob the education you gain Cthe cost of your d the income you could have d if you didn't attend while you are attending college from attending college apartment or dorm college QUESTION 8 Bacon is used to produce bacon cheeseburgers, and the price of bacon decreases. In the market for bacon cheeseburgers you would expect that a the supply of bacon b the supply of bacon the demand for bacon d the demand for cheeseburgers would rgers would bacon decrease and the price of bacon cheeseburgers would would increase and the price of bacon cheeseburgers would increase bacon decrease cheeseburgers woul would fall

Explanation / Answer

Opportunity cost is the cost that someone forego from doing something else. So in this case opportunity cost of attending college is the income you could have earned working somewhere.

If the price of Bacon decreases then it would be cheaper to buy bacon. So for Bacon Cheeseburger makers it would cost them less to produce that same amount of Cheeseburgers. Therefore they will supply more Cheesebugers and this will decrease the price of cheeseburgers

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