NAIMMCQ
Microeconomics
Your grandmother has a monthly income of $200 that she spends entirely on books and toys for her grandchildren. The price of a book is $20 and the price of a toy is $10. The opportunity cost of a book for your grandmother is
Your grandmother has a monthly income of $200 that she spends entirely on books and toys for her grandchildren. The price of a book is $20 and the price of a toy is $10. The opportunity cost of a book for your grandmother is
Your grandmother has a monthly income of $200 that she spends entirely on books and toys for her grandchildren. The price of a book is $20 and the price of a toy is $10. The opportunity cost of a book for your grandmother is
A. 1/2 toy
B. 1 toy
C. 2 toys
D. 10 toys
Answer: C