Opportunity Cost: Tom took a job at a grocery store during his summer break. At the end of
the summer, he managed to save $500 from
the job. Tom would like to purchase a new
television for his bedroom, while his parents
have advised him to open a savings account. A
new savings account earns 2 percent interest
per year. If Tom chooses to purchase the
television instead, what is the marginal cost or
marginal benefit after one year?