High School

The corner store has pizza, soup, or salad for lunch, and they all cost the same. You decide to have a soup today, but if they were out of soup, you would have bought a salad. Your opportunity cost of the soup is:

A. your enjoyment of the pizza
B. your enjoyment of the salad
C. your enjoyment of the pizza or the salad
D. your enjoyment of the pizza and the salad

Answer :

Final answer:

The opportunity cost of choosing to eat soup is the enjoyment you would have gained from eating a salad because salad is your second best choice after soup. The correct option is a.

Explanation:

In economic theory, the concept of opportunity cost represents the value of the next best alternative that a person gives up when making a decision. For your corner lunch option choice, you have pointed out that if the store were out of soup, your next choice would be a salad.

Therefore, the opportunity cost of choosing to eat a soup would be your enjoyment of the salad (or the satisfaction you would have gained from eating salad). Pizza, in this case, would not factor into the opportunity cost as it was not your next choice. The correct option is a.

Learn more about opportunity cost here:

https://brainly.com/question/13036997

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