Maria goes on a shopping trip to get ready for her vacation. She loads her cart with a new purse for $12.00, a sun hat for $4.00, magazines for $6.00, and a beach towel for $4.00. When she gets to the register, she realizes she only has $20.00 in her pocket. Use the passage to answer the question. If Maria decides to purchase the sun hat, towel, and bathing suit, what is the opportunity cost of her purchase? (1 point) Responses the sun hat the sun hat the magazines the magazines the towel the towel new purse
The opportunity cost of Maria's purchase would be the new purse.
The opportunity cost of Maria's purchase refers to the value of the next best alternative she could have chosen instead. In this case, if Maria decides to purchase the sun hat, towel, and bathing suit, the opportunity cost would be the value of the next best alternative she could have chosen. However, the passage does not mention a bathing suit as one of the items in her cart or as an option for purchase. Therefore, without information about the value or cost of the bathing suit, we cannot determine the opportunity cost in this scenario.
To determine the opportunity cost of Maria's purchase, we need to understand what the term "opportunity cost" means. Opportunity cost refers to the value of the next best alternative that is forgone when making a decision.
In this scenario, Maria has a limited budget of $20.00 and a cart with items worth a total of $26.00 (purse, sun hat, magazines, and beach towel). Since Maria can only afford $20.00, she needs to prioritize her purchases.
If Maria decides to purchase the sun hat, towel, and bathing suit, the opportunity cost of her purchase would be the value of the next best alternative that she is giving up. In this case, we can determine the opportunity cost by subtracting the total cost of the sun hat and towel ($4.00 + $4.00 = $8.00) from the total amount she has in her pocket ($20.00).
Opportunity cost = Total amount in pocket - Total cost of sun hat and towel
Opportunity cost = $20.00 - $8.00
Opportunity cost = $12.00
Therefore, the opportunity cost of Maria's purchase (if she decides to purchase the sun hat, towel, and bathing suit) is $12.00.