You Own a Car and Are Trying to Decide Whether

question 84

Multiple Choice

You own a car and are trying to decide whether to trade it in and buy a new car.Which of the following costs is an opportunity cost in this situation?

• A)The trip to Europe that you will not be able to take if you buy the car
• B)The cost of the car you are trading in
• C)The cost of toothpaste and soap that you need for the next few months
• D)The cost of your meals for the last week

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Definitions:

Orangetheory Fitness

A franchise-based fitness company offering hour-long, high-intensity workout classes that combine cardiovascular and strength training.

Limited-Service

Refers to businesses or offerings characterized by a reduced or more focused range of services, typically at a lower cost.

Exclusive-Service

A service provided under conditions where the provider has agreed to supply services exclusively to a specific customer or market segment.

Minimal-Service

Retail or service environments that offer limited assistance to customers, focusing on self-service or automated service options to reduce costs.