Bob's Decision-Making Grid ALTERNATIVES
GOING FOR A RUN
GOING OUT TO
EAT WITH FRIENDS
Benefits
Burning calories
Getting in better shape
Having fun with friends
Eating a tasty dinner
Having fun with friends
Eating a tasty dinner
Burning calories
Getting in better shape
Benefits foregone
a
What is Bob's opportunity cost if he decides to go out to eat with friends?
the money spent on the dinner
b. the money saved by not going out
c. getting exercise
d. having fun with friends