What is the opportunity cost in this scenario? Mikael has saved $4,000 for his to trip to Brazil. He has calculated that his total transportation expenses will be $1,000. The hotel will cost him
another $1,500. He will spend about $500 on food. He plans on spending the remaining $1,000 for sightseeing and buying souvenirs.
While booking his plane ticket, he realizes that the price has gone up. His total transportation expenses will go up by $200. He realizes that he
cannot cancel his hotel reservation. He also doesn't want to go cheap on food. Finally, he decides to give up visiting the popular Ouro Preto
during his stay in Brazil.

The opportunity cost in this scenario is Sightseeing.

The Opportunity Cost in this scenario will be the amount of  $1,000 that has been made available for  sightseeing and buying souvenirs.

Opportunity Cost is an alternative forgone which a person or an individual give up or forgone  in order to choose  other available alternative when making a  decision  which inturn may  result in  the loss of  gain  that would have been derived  if the alternative forgone was  choosing.

Example of opportunity cost is  giving up

on buying movies tickets for a textbook.

Therefore the opportunity cost in this scenario is Sightseeing.

Learn more about Opportunity cost here:

the answer is "i traveled to mexico to learn about my family's history."

explanation:

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