Chanel Has the Option of Purchasing One of Three Products

question 130

Multiple Choice

Chanel has the option of purchasing one of three products: Brand A,Brand B,or Brand C.The price of each product is $10.If Chanel decides to purchase Brand A,the opportunity cost of this decision is

• A)$20.
• B)Brand B or Brand C,depending on which she considers to be the highest-valued alternative forgone.
• C)Brand A.
• D)Brand B and Brand C.
• E)zero if this is a frivolous purchase with no marginal benefit.

---

Definitions:

Evaluation

The process of examining something carefully to judge its value, quality, or importance, often for decision-making purposes.

Urine

A liquid by-product of metabolism in the bodies of many animals, including humans, that is excreted by the kidneys and expelled from the body through the process of urination.

Disease

A disorder or malfunction that affects the body or mind, leading to symptoms, dysfunction, and distress.

Quantitative Analysis

A method of inquiry employing statistical, mathematical, or computational techniques to examine properties or phenomena and express results numerically.