Question

Caroline has several options for how to spend her Saturday night, listed in order of descending preference: 1. Go to a folk music concert with a friend. 2. Get dinner with several of her sorority sisters. 3. Go shopping with her mom. Caroline can only do one activity. Match each activity (on the left) with its opportunity cost (on the right).

Answer 1

Answer:

Please go through the explanation and then the attached fine for the answer.

Explanation:

Opportunity cost is defined as what you have to sacrifice to get something. It is the lose of other alternatives when one alternative is chosen.

For further insight to the answer please go through the attached file.