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11 October, 22:42

Monica paid $12 for a music CD for which she later was offered $15. After that someone offered her $18 for the CD. If Monica keeps the CD, the amount of her opportunity cost is $33. a. Trueb. False

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  1. 12 October, 00:41
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    False

    Explanation:

    The opportunity cost refers to the benefit that is foregone by choosing some other alternative. It is measurable in monetary terms as well as in non-monetary terms.

    In our case,

    Monica paid for CD = $12

    Hence, she already paid for the CD, so here the opportunity cost is either she keep the CD or she not keep the CD for the amount of $18.

    Hence, if Monica decided to keep the CD then the opportunity cost of keeping the CD is $18.
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Home » Business » Monica paid $12 for a music CD for which she later was offered $15. After that someone offered her $18 for the CD. If Monica keeps the CD, the amount of her opportunity cost is $33. a. Trueb. False
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