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What is the opportunity cost of decision

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Tony plans 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 $300 and it takes 3 hours to reach home. Carpool cost is $100 and he will reach home in 10 hours.

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

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

Reference no: EM132789985

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