If Tina decides to go out for lunch with her friends, she would incur an opportunity cost of $23.00.
What is Opportunity Cost?
- It refers to the next best alternative to our chosen course of action.
- The payoff of that next best alternative is the cost incurred.
If Tina goes out with her friends, she will spend that $23.00 or some amount from it. If she chooses the next best alternative of not going out, she will get to save that $23.00.
In conclusion, Tina's opportunity cost would be saving $23.00.
Find out more on opportunity costs at https://brainly.com/question/24461275.
