For high school graduation, Ryan’s family is giving him a choice between two presents that are both worth $900. He can choose either a new laptop that’s loaded with graphic design programs he will need for art school, or he can choose to go to a surf camp in Mexico with three of his best friends from high school. What is the opportunity cost if Ryan chooses the laptop?
Answer
A
Getting a head start on learning the software he will be using for school.
B
The remaining cost of the tuition for the first year of art school
C
The cost of additional software and accessories for the laptop
D
The shared experience and memories with high school friends before they part ways
Explanation
Opportunity cost is the value of the next-best alternative that Ryan gives up when he makes a choice. If he chooses the laptop, he gives up the surf camp with his friends, including the shared experience and memories. Getting a head start with the software is a benefit of the laptop, not an opportunity cost.
AI-written and checked against the verified answer.