Dr. Octavio is an Ophthalmologist who performs both cataract and Lasik surgeries

Question

Dr. Octavio is an Ophthalmologist who performs both cataract and Lasik surgeries. If a competitor starts offering Lasik surgery as well, causing a decrease in the price Dr. Octavio can charge for Lasik. This price decrease

a.      increases the opportunity cost of performing cataract surgeries.

b.      increases the demand for Lasik surgery.

c.      reduces the opportunity cost of performing cataract surgeries.

d.      increases the demand for cataract surgeries, if cataract and Lasik surgeries are substitutes.  

Explanation / Answer

increases the opportunity cost of performing cataract surgeries.

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