In deciding how to spend the money, he narrows his options down to four choices - 11433

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umer

umer

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Request Description

Maurice receives $100 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 $100. Finally he decides on Option B. The opportunity cost of this decision is __________.

A.  the value to Maurice of Options A, C and D combined

B.  the value to Maurice of the option he would have chosen had Option B not been available

C.  $100

D.  $300

 
Solution Description

Maurice receives $100 as a birthday gift. In deciding how to spend the money, he narrows his options down to four c