Nancy asks Beth to be her maid of honour at her wedding. Bethaccepts. Wich of th

Question

Nancy asks Beth to be her maid of honour at her wedding. Bethaccepts. Wich of the following are part of her opportunitycost of being Nancy's maid of honour? Explain why they are orare not.
a) The $200 she spent on a new outfit for the occasion.
b) The $50 she spent on a party for Nancy's friends.
c) The money she spent on a haircut a week before the wedding.
d)The weekend visit she missed for her grandmother's 75thbirthday-the same weekend as the wedding.
e) The $10 she spent on lunch on the way to the wedding.

Explanation / Answer

Opportunity cost or economic opportunity loss is the value ofa product forgone to produce orobtain another product. ...
: a Not part......has to do with the wedding b)Not part.....has to do with the wedding c)Not part....part of wedding d)Is part.....she missed her grandma's birthday e)Not part.......part of wedding

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