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AssignmentMultiple Choice

Opportunity Cost

Question 1 • (Galli)WCA 2221 Civics/Economics 1st nine weeks 26-27

Based on what you have read, if Jasmine works at the supermarket, what is her opportunity cost?

Answer
A
working at a new job
B
earning extra spending money
C
gaining job experience
D
missing out on playing basketball

Explanation

Opportunity cost is the value of the next-best alternative you give up when you make a choice. If Jasmine works at the supermarket, she gives up the opportunity to play basketball, so the cost is missing out on playing basketball. Earning money and gaining experience are benefits of working, not what she gives up.

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