With a budget of $500 000, a school board can choose to purchase 20 000 textbooks or 2000 laptop computers (or some intermediate combination) for use in classrooms. Textbooks 20 000 15 000 + 10 000+ 5000+ FIGURE 1-2 B C E 1000 Laptop computers 2000 Refer to Figure 1-2. Suppose the school board chooses to allocate all $500 000 to the purchase of laptop computers. What is the opportunity cost of this entire purchase? Select one: O A. The opportunity cost is 2000 laptops. OB. The opportunity cost is uncertain. OC. The opportunity cost is 20,000 textbooks. OD. The opportunity cost is $0. O E. There is no opportunity cost because the purchase was made within the available budget.

With a budget of $500 000, a school board can choose to purchase 20 000 textbooks or 2000 laptop computers (or some intermediate combination) for use in classrooms. Textbooks 20 000 15 000 + 10 000+ 5000+ FIGURE 1-2 B C E 1000 Laptop computers 2000 Refer to Figure 1-2. Suppose the school board chooses to allocate all $500 000 to the purchase of laptop computers. What is the opportunity cost of this entire purchase? Select one: O A. The opportunity cost is 2000 laptops. OB. The opportunity cost is uncertain. OC. The opportunity cost is 20,000 textbooks. OD. The opportunity cost is $0. O E. There is no opportunity cost because the purchase was made within the available budget.

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter1: What Economics Is About

Section: Chapter Questions

Problem 24QP

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