Opportunity cost is the cost that an opportunity presents. The opportunity benefit is the benefit of the opportunity that is being presented.
The benefit is greater than the opportunity cost.
an opportunity cost
Being used efficiently
The opportunity cost of taking a vacation from work, in all likelihood, is the wage and/or benefits accrued from having worked. This represents the highest alternative benefit forgone to take the vacation.
The opportunity cost is defined as alternative cost - costs measured in output of products and services forgone.It can't be defined as variable cost. In the simple formula p = 2q + 100, we can say that 2 is the variable cost. In other words: it's not fixed like the 100.Opportunity costs are not restricted to financial or monetary costs though. The real costs of output forgone (e.g. when choosing between a number of products like shotguns and bananas), lost time / pleasure, or any other benefit that provides benefit should also be considered opportunity costs. Therefore real costs are part of opportunity costs.
The benefit is greater than the opportunity cost.
The opportunity cost were the consumer goods and services.
Shadow wage is the opportunity cost of labour, used in cost benefit analysis.
When Mutual exclusive decision is to be made or projects to be selected, the benefit which is left due to selection of one project instead of other project is the 'Opportunity Cost' for selecting one project over other. Example: Project 1 benefit = 100000 Project 2 benefit = 200000 Opportunity cost for project 1 = 200000 Opportunity cost for project 2 = 100000
Shadow wage is the opportunity cost of labour, used in cost benefit analysis.
Opportunity cost refers to the economic benefit forgone by using a resource for one purpose rather than another.
The benefit is greater than the opportunity cost.
The benefit is greater than the opportunity cost.
The benefit is greater than the opportunity cost.
an opportunity cost
Being used efficiently
The opportunity cost of taking a vacation from work, in all likelihood, is the wage and/or benefits accrued from having worked. This represents the highest alternative benefit forgone to take the vacation.