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If it wasn't desirable and you didn't want to do it, than it's not a cost. If you were to have two choices, getting punched in the face or getting a free lunch, taking the lunch means you dont get hit, so you don't lose anything by taking the sandwich, theres no "cost" here, but a benefit only.
What else can I help you with?
What is always there when something is produced?
an opportunity cost
Why must the opportunity cost of a decision always be something desirable?
The opportunity cost of a decision must always be something desirable because it represents the value of the next best alternative that is forgone when making a choice. Individuals and organizations aim to maximize their utility or benefits; therefore, the options they give up should ideally be those that they would prefer to pursue. This concept helps clarify the trade-offs involved in decision-making, emphasizing that every choice carries a cost in terms of what is sacrificed. Thus, considering desirable alternatives ensures that decisions are made with the goal of achieving the highest overall satisfaction or benefit.
Why must opportunity cost of a decision always be something desirable?
If it wasn't desirable and you didn't want to do it, than it's not a cost. If you were to have two choices, getting punched in the face or getting a free lunch, taking the lunch means you dont get hit, so you don't lose anything by taking the sandwich, theres no "cost" here, but a benefit only.
What calculates the opportunity cost?
Opportunity cost is something for the next porpose.
What does the word opportunity cost means?
Opportunity cost means that there is an opportunity to get something in a lower cost. __by Alondra Rico
How does an opportunity cost differ from trade offs?
Trade-off uses the gun's and butter decision while opportunity cost is the most desirable alternative insted of the gun's and butter decision :)
How does an opportunity cost differ from a trade -off?
Trade-off uses the gun's and butter decision while opportunity cost is the most desirable alternative insted of the gun's and butter decision :)
How does an opportunity cost differ from a trade-off?
Trade-off uses the gun's and butter decision while opportunity cost is the most desirable alternative insted of the gun's and butter decision :)
Is opportunity cost a relevant cost?
Yes, opportunity cost is a relevant cost because it can be used in something more productive.
How does cost different from opportunity?
"cost" represents the money paid for something and "opportunity cost" is the value of the thing given up when one chooses something else.
Why is the opportunity cost of decision always less than the cost of the chosen good or service?
Why is the opportunity cost of a decision always less than the cost of the chosen good or service?
How does cost differ from opportunity costs?
"cost" represents the money paid for something and "opportunity cost" is the value of the thing given up when one chooses something else.
