Business, 13.01.2022 22:50 Jboone

Opportunity cost is not just about monetary cost; it includes anything other than the price of a good that a consumer gives up in order to buy his or her good of choice. Looking to invest in his first pair of dress shoes, Sean is deciding between a pair of slip-on shoes and a pair of traditional lace-up wingtips. In this case, the slip-ons cost $50 more than the Wingtips. Which of the following should be included in the opportunity cost of buying the slip-ons? Included in the Opportunity Cost
i. the classic look of traditional wingtips
ii. the savings that would come from buying the wingtips the money
iii. the no-lace convenience of slip-ons
iv. the pride that comes with wearing the more expensive shoes

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