You can either spend spring break working at home in Alabama for $100 a day for five days, or you can spend the week in Costa Rica where travel expenses will total $800 (food, hotel, and a plane ticket.) What is the opportunity cost of the trip to Costa Rica? Explain how you determined your answer.© BrainMass Inc. brainmass.com December 15, 2020, 6:59 pm ad1c9bdddf
Number of alternatives: 2 ($500 work at home, - $800 Costa Rica trip)
Cost of selected Alternative = ...
This solution clearly explains the opportunity cost concept by calculating an example of working in Alabama vs traveling in Costa Rica.