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Chapter 2: Q.27 (page 44)

What is Marie鈥檚 opportunity cost of purchasing a

pie?

Short Answer

Expert verified

Marie鈥檚 opportunity cost of purchasing a pie is 3

Step by step solution

01

Step 1. opportunity cost

Opportunity cost which is also called Alternative cost refers as the next best alternative that is forgone.

02

Step 2.Concept

the opportunity cost of pie is the number of magazines she can give up upon for one more pie

so Marie鈥檚 opportunity cost of purchasing a pie is three.

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