Label each scenario by deciding whether the opportunity cost…
Label each scenario by deciding whether the opportunity cost has increased or decreased. Emily is deciding between her two favorite restaurants. One makes Indian food and the other makes Chinese food. The Indian restaurant has just raised its prices. The opportunity cost of Chinese food has . Jacob has a bagel or a muffin for breakfast. Muffins are on sale, so they cost $1less than usual. The opportunity cost of eating a bagel has . Taylor has to take time off work to study. Since her wage has increased from $10/hour to $15/hour, the opportunity cost of studying has . Justin decides to take the bus to school instead of driving to school. The price of gasoline has just decreased. The opportunity cost of taking the bus has .