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AJ is buying a new car and chooses to pay $250 for upgraded floor mats
because he is already spending $24,000; the $250 is only about 1 percent of the
purchase price. This describes an example of
O relative value because hels comparing the value of the floor mats relative to the value
of the car.
the unseen alternatives of his decision, such as saving money or paying for college.
the best way AJ can spend his money because he is thinking of everything he could do
with his money.
taking into account the opportunity costs of buying the car and making the best
choice.



Answer :

Lanuel

The information provided best describes an example of: relative value because he is comparing the value of the floor mats relative to the value of the car.

What is an opportunity cost?

An opportunity cost is also referred to as alternative forgone and it can be defined as the value, profit or benefits that are given up and forfeited by an individual or business firm, in order to choose or acquire something that is deemed most significant over other available choices, at a particular point in time.

In this scenario, we can infer and logically deduce that the information provided best describes an example of relative value because AJ is comparing the value of the floor mats which cost $250, relative (with respect) to the value of the car, which cost $24,000.

Read more on opportunity cost here: brainly.com/question/8846809

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