of Page 13 I Looking to invest in his first pair of leather dress shoes, Sean is
ID: 1158549 • Letter: O
Question
of Page 13 I Looking to invest in his first pair of leather dress shoes, Sean is deciding between some Alden slip- ons and some Allen Edmonds wingtips. The Aldens are more expensive. What is included in the opportunity cost of buying the Aldens? 8 Correct Answer(s) the classic, snazzy look that comes with the pride that comes with wearing a pair of wearing wingtips Alden shoes the savings that would come from buying the wingtips the no-lace convenience of slip-ons the money that would be spent to buy the wingtips Incorrect Answer(s)Explanation / Answer
Answer : The opportunity cost associated with Alden shoes are the savings that has come from buying the wingstips. Opportunity cost is a monetary cost that has been foregone bt the person in order to given up the product. The no lace convince is non monetary cost. But foregoing classic design is the cost beared by them
Where as incorrect options are the money spend on buying the wingstips and the pride that come with wearing Alden shoes
As these are not foregone cost by the person.
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