In economics, the concept of opportunity cost is related to both the alternatives and decision-making. A friend offers you a Coke, a Pepsi, or a Diet Coke. You dont like Diet Coke, so after some thought, you take the Pepsi. In this case, what is the opportunity cost of your choice?
- The Pepsi
- The Diet Coke
- The Coke plus the Diet Coke
- The Coke
Answer
The correct answer is D) The Coke.
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