Which situation best illustrates an example of an opportunity cost?
O A. A restaurant offers new customers discounted rates in order to
attract more loyal customers over time.
OB. A retailer decides to stop selling a certain brand of electronics
because it has been in low demand.
C. A factory increases wages for its workers but does not have
enough money left over to invest in new machinery.
O D. A business owner performs a cost-benefit analysis to decide on a
price for his newest product.

A restaurant offers new customers discounted rates in order to attract more loyal customers over time is the situation best illustrates an example of an opportunity cost. Thus, option (a) is correct.

What is opportunity cost?

The next best option is the term used by economists to describe opportunity cost. The opportunity cost, sometimes referred to as the alternative cost, is the best option to select depending on the circumstances.

It can also be characterized as the loss of benefit as a result of a change in preference. The restaurant owner employed an excellent method to draw in new clients by offering a significant discount to keep regular, devoted consumers. The opportunity cost as a restaurant is eventually developed.

Therefore, option (a) is correct.

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