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Sagot :
One pair of pants represented the opportunity cost because she had to alter her spending plans in order to purchase them.
More about opportunity cost:
Opportunity costs are the benefits that a person, investor, or company forgoes while deciding between two options. Opportunity costs are by definition invisible, making them simple to ignore. Simply said, it is the value that is lost when a corporation must choose between two or more options.
Opportunity cost, from the viewpoint of the investor, suggests that choices made about investments will always result in an immediate loss or gain in the future.
Complete Question:
What is the opportunity cost in this Scenario? Gretchen earned $500 from her summer job. She made a list of things that she wants to do with the money shee earned. She thought of spending $100 to buy a guitar amplifier, enrolling in a ballet class for $200, buying new clothes worth $100, and giving her mom a silver necklace Worth $100. When she went to buy the amplifier, she found it cost around $150. She knew that she couldn't change the fee for the dance classes. So she had to adjust the budget for her clothes or her mom's gift. In the end, she decided she would buy one pair of jeans instead of the two pairs of jeans she had planned.
Learn more about opportunity cost here:
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