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What is the opportunity cost of decision

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Tony decided to visit his parent in San Diego during the long weekend. He has two options. Either he can take a flight or carpool with his friends. The flight cost is $200 and it takes 3 hours to reach home. Carpool cost is $100 and he will reach home in 8 hours.

(a) He decides to carpool with his friends. What is the opportunity cost of his decision?

(b) He decides to take a flight. What is the opportunity cost of his decision?

Reference no: EM131584714

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