Economics 9708 · AS & A Level · Scarcity, choice and opportunity cost

Scarcity, choice and opportunity cost — practice question

A driver uses the following estimates when deciding whether to buy a car that she plans to use only in situations where she would otherwise have travelled by public transport. (listed values omitted here) What will be the opportunity cost in monetary terms to the driver over the year of travelling by car rather than by public transport?

  • A$1500
  • B$3000
  • C$3700
  • D$7800

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