What is the opportunity cost in thisscenario? Mikael has saved $4,000 for his trip to Brazil. He another $1,500. He has calculated that

What is the opportunity cost in thisscenario?
Mikael has saved $4,000 for his trip to Brazil. He
another $1,500. He
has calculated that his total transportation expenses will be $1,000. The hotel will cost him
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 h
cannot cancel his hotel reservation. He also doesn’t want to go cheap on food. Finally, he decides to give
during his stay in Brazil.
up visiting the popular Ouro Preto during his stay in Brazil