(Solved) Pete receives \$50 as a birthday gift. In deciding how to spend the money, he narrows his options down to four choices: Option A, Option B, Option C,...

Pete receives \$50 as a birthday gift. In deciding how to spend the money, he narrows his options down to four choices: Option A, Option B, Option C, and Option D. Each option costs \$50. Finally he decides on Option B. The opportunity cost of this decision is ___.

__.

Question 3 options:

a)Â \$100.

b)Â the value to Pete of the option he would have chosen had Option B not been available.

c)Â the value to Pete of Options A, C and D combined.

d)Â \$50.

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This question was answered on: Sep 05, 2019

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