Microeconomics++++Class+__+__+discussion unit-+++-1.docx

Microeconomics++++Class+__+__+discussion unit-+++-1.docx -...

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Hello everyone, Listed below are my answers for the discussion topics. a. Think of the last two major things you bought. Why did you buy them? What were your opportunity costs in making the purchase? What would have been the opportunity cost, if you had NOT made the purchase? (Not all opportunity costs are measured in money.) The last two major items that I purchased were a refrigerator and a bed after my divorce. The refrigerator cost roughly $700 and the bed cost roughly $800. According to page 7 of the textbook, the opportunity cost of an item is what was given up in order to get it. That means that the opportunity cost for each purchase was the money I spent to purchase the items. If I had not made the purchases the opportunity costs there would have been several opportunity costs for each. By not purchasing the refrigerator, I would be forced to either keep cold food items in a cooler or not purchase any items that needed refrigeration. This would
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