You have three options for the last $4.30 in your pocket: a cappuccino you value at $6.60; a smoothie you value at $5.40, and a frog. (The price of each item is $4.30.) What is the (opportunity) cost, in dollars, of purchasing the frog? (Do NOT enter the $.) 6.6

You have three options for the last $4.30 in your pocket: a cappuccino you value at $6.60; a smoothie you value at $5.40, and a frog. (The price of each item is $4.30.) What is the (opportunity) cost, in dollars, of purchasing the frog? (Do NOT enter the $.) 6.6

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

I think these two questions are testing a similar type of concept. Why don't we include the 4.3 in q1 or 310 in q2 as cost and subtract it

You have three options for the last $4.30 in your pocket: a cappuccino
you value at $6.60; a smoothie you value at $5.40, and a frog. (The
price of each item is $4.30.) What is the (opportunity) cost, in dollars,
of purchasing the frog? (Do NOT enter the $.)
6.6

If you do not use your ¥310 store credit today, it expires (i.e.,
becomes worthless)! You can either use the credit to buy the $¥310
pour over, the ¥310 cortado or let the credit expire. If you value the
cortado at ¥140, what is your opportunity cost, in yen (¥), of using
your store credit to buy a pour over? (Do NOT enter the ¥.)
140

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