David receives $200 as a birthday gift. In deciding how to spend the money, he narrows his options down to four: A, B, C, and D. The price of each option is $100, but David prefers B to C, C to A, and A to D. What is the opportunity cost of option B? O a. It is David's valuation of C. O b. It is David's valuation of A, C, and D together. Oc. It is $200. Od. It is $100.

David receives $200 as a birthday gift. In deciding how to spend the money, he narrows his options down to four: A, B, C, and D. The price of each option is $100, but David prefers B to C, C to A, and A to D. What is the opportunity cost of option B? O a. It is David's valuation of C. O b. It is David's valuation of A, C, and D together. Oc. It is $200. Od. It is $100.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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