The five dollar Burger Joint gift card that your friend gave you for your birthday expires today. You can either use the gift card to buy yourself dinner at Burger Joint or you can stay home and eat a delicious home-cooked meal. What is the opportunity cost of eating the home-cooked meal?
The value of a five-dollar dinner at Burger Joint.
The value of the ingredients that go into the home-cooked meal and the value of a five-dollar dinner at Burger Joint.
There is no opportunity cost since you did not pay for the gift card.
The time it takes to eat your home-cooked meal and the value of the five-dollar dinner at Burger Joint.
The value of the ingredients that go into the home-cooked meal.