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opportunity cost can have a value, especially if you are looking at such things as the college/job thing. If you go to college rather than take a job, your opportunity cost is the amount of money you lose from not working at the job.
Opportunity cost does not always have to have a value. Again with the college/job example, if you take a job rather than go to college, your opportunity cost can be things like more education and college memories, etc.
Opportunity cost is simply "what you give up". Therefore, if you are giving up money, your opportunity cost has a monetary value. If you are giving up education or experience or the like, your opportunity cost technically has no monetary value, but you are still giving something up.
Hope that answers the question.
What else can I help you with?
What is Opportunity cost determined by?
The opportunity cost of doing action A is not doing action B. So, the opportunity cost theoretically depends upon how much you value action A over action B (ie, value of action A - value of action B).
What is implicit cost of capital?
the opportunity cost or value of the best by a business
Can opportunity cost ever be negative?
No, opportunity cost can never be negative. It is the value of the next best alternative that is foregone when a decision is made.
How opportunity cost is measured?
how is opportunity cost measured {Finding the value of the best options that is not chosen.}
How is opportunity cost calculated?
finding the value of the best choice that is not chosen
What is capital cost?
the opportunity cost or value of the best by a business
What is Cost of capital?
the opportunity cost or value of the best by a business
What is Opportunity cost determined by?
The opportunity cost of doing action A is not doing action B. So, the opportunity cost theoretically depends upon how much you value action A over action B (ie, value of action A - value of action B).
What is implicit cost of capital?
the opportunity cost or value of the best by a business
Can opportunity cost ever be negative?
No, opportunity cost can never be negative. It is the value of the next best alternative that is foregone when a decision is made.
What is the value of a persons second choice called?
opportunity cost
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.
How opportunity cost is measured?
how is opportunity cost measured {Finding the value of the best options that is not chosen.}
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.
How is opportunity cost calculated?
finding the value of the best choice that is not chosen
Which caculates opportunity cost?
Finding the value of the best option that is not chosen.
How is an opportunity cost calculated?
Finding the value of the best option that is not chosen
