The Northville School Board has proposed this budget for the upcoming school year:

20% for school staffs salaries

50% for school maintenance and upkeep

1096 to refurbish the gymnasium

5% to upgrade the computer lab hardware

10% for new instruments for the music department

5% for new sports equipment

After a brief discussion, the school board revised the budget as follows:

20% for school staff's salaries

50% for school maintenance and upkeep

10% to refurbish the gymnasium

10% to upgrade the computer lab hardware

• 5% for new instruments for the music department

5% for new sports equipment

In this case, the opportunity cost for

C was

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Explanation:

Going through & comparing both the proposed budget with the revised budget, we observe 2 changes. We notice that 5% was reduced from purchase of new musical instruments for the music department and that upgrade of computer lab hardware was increased by 5%. As the revised budget is the final budget, we see that in it the board opted to have more  computer hardware instead of new instruments for the music department. In so doing, Northville Schoolpurchased more computer hardware at the expense of new instruments.

Opportunity cost refers to the "cost" incurred by foregoing the advantage associated with the best alternative choice to get something else. In this case, the Northville School Board passed up the opportunity to get new instruments & instead opted to upgrade the computer lab hardware. Therefore, the opportunity cost for computer lab hardware upgrade is the purchase new instruments.

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