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

Scarcity, choice and opportunity cost — practice question

An individual has a meeting with his bank manager. He can either drive to the meeting in a car, or leave the car at home and make the journey by bus and then by train. The journey costs are shown below. Using this information, what is the opportunity cost to the individual of travelling by car instead of by bus and train?

  • A$2
  • B$4
  • C$7
  • D$12

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