The $15 Kelly's Big Burger gift card that your friend gave you for your birthday expires oday. You can either use the gift card to buy yourself dinner at Kelly's Big Burger, or y can stay home and eat a delicious home-cooked meal. What is the opportunity cost of eating the home-cooked meal? a) The value of a $15 meal at Kelly's Big Burger. b) The value of the ingredients that go into the home-cooked meal, an the value of a $15 meal at Kelly's Big Burger. There is no opportunity cost since you did not pay for the gift card
The $15 Kelly's Big Burger gift card that your friend gave you for your birthday expires oday. You can either use the gift card to buy yourself dinner at Kelly's Big Burger, or y can stay home and eat a delicious home-cooked meal. What is the opportunity cost of eating the home-cooked meal? a) The value of a $15 meal at Kelly's Big Burger. b) The value of the ingredients that go into the home-cooked meal, an the value of a $15 meal at Kelly's Big Burger. There is no opportunity cost since you did not pay for the gift card
Chapter3: Scarcity, Trade-offs, And Production Possibilities
Section: Chapter Questions
Problem 6P
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Transcribed Image Text:The $15 Kelly's Big Burger gift card that your friend gave you for your birthday expires
today. You can either use the gift card to buy yourself dinner at Kelly's Big Burger, or you
can stay home and eat a delicious home-cooked meal.
What is the opportunity cost of eating the home-cooked meal?
a) The value of a $15 meal at Kelly's Big Burger.
b) The value of the ingredients that go into the home-cooked meal, and
the value of a $15 meal at Kelly's Big Burger.
c) There is no opportunity cost since you did not pay for the gift card.
d) The value of the ingredients that go into the home-cooked meal.
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