Which of the following demonstrates a scenario with no opportunity cost? 0 ?? Fr

Question

Which of the following demonstrates a scenario with no opportunity cost? 0 ?? Friday night and you have no obligations the next day, so you stay up late talking and anging out with your fr O The chemistry cdlub is giving out free pizza for lunch to all who come to their table to get it. Naomi, age 8, is at a bookstore and chooses to buy a book about a young wizard instead of buying a math textbook that she would probably never open. Chez Moi and Chez Nous, two premiere French restaurants with three Michelin stars, both offer you a full time sous chef job at the same salary. You are ecstatic because you know it is a win-win scenario and choose to work for Chez Nous. O O All of these scenarios have an opportunity cost.

Explanation / Answer

Solution-

The correct option is E. All of these scenarios have an opportunity cost.

Reason-

The value of opportunity is the economic term that you have to give up for choosing another option. In short, its a forgiven cost or wages.In first scenario the opportunity cost is Sleep, In second scenario chemistry club gives free pizza to customers however the cost of pizza is the opportunity cost for chemistry club, In third scenario Young wizard book is not useful to Naomi hence the cost of this book is opportunity cost, In fourth scenario, Chef choose ches nous over ches moi hence it is a opportunity cost.

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