Business, 26.11.2019 21:31 amandasantiago2001
Kevin has $20 to spend on summer clothes. he is looking at shirts, shorts, and flip-flops. shirts are $10, shorts are $15, and flip-flops are $10. which of the following statements best describes the opportunity costs and benefits of buying a shirt?
a. the opportunity cost is $10; the benefit is that he now has a shirt.
b. the opportunity cost is that he cannot afford the shorts; the benefit is that he now has a shirt.
c. the opportunity cost is $10; the benefit is that he saved $15.
d. the opportunity cost is that he cannot afford the shorts or the flip-flops; the benefit is that he saved $10.
Answers: 2
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