A-LevelEconomicsBasic economic ideas and resource allocation9708/12 · Feb/Mar 2019 · Q41 Mark
A student buys a flute for $80 but then is unable to learn to play it. It has a resale value of $50, while the shop retail price of the same type of flute has risen to $95. What is the present opportunity cost to the student of keeping the flute?
A$30
B$50
C$80
D$95
✓ Correct answer
B: $50
Practise more questions on this topic
Oracle Prep sorts past-paper questions by topic, so you can drill Basic economic ideas and resource allocation and see which topics are most likely to come up next.
Sign up free →