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What is the opportunity cost of spending an evening revising for an economics exam?
Not visiting my girl friend and leisure
What is opportunity cost and opportunity benefit?
Opportunity cost is the cost that an opportunity presents. The opportunity benefit is the benefit of the opportunity that is being presented.
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
Mallory decides to spend 3 hours working overtime rather than watching a video with her friends She earns 8 an hour Her opportunity cost of working is?
Mallory's opportunity cost of working is the value of what she foregoes by not watching the video with her friends. Since she spends 3 hours working at a rate of $8 per hour, she earns $24 for that time. Additionally, the enjoyment and social interaction she misses out on by not spending time with her friends also contribute to her opportunity cost. Therefore, her total opportunity cost includes both the $24 earned and the intangible benefits of friendship and leisure.
What calculates the opportunity cost?
Opportunity cost is something for the next porpose.
What is the opportunity cost of spending an evening revising for an economics exam?
Not visiting my girl friend and leisure
What is opportunity cost and opportunity benefit?
Opportunity cost is the cost that an opportunity presents. The opportunity benefit is the benefit of the opportunity that is being presented.
Why students watch more TV the week after the examination than the week before the examination use the principle of opportunity cost?
Students may choose to watch more TV the week after exams because the opportunity cost of doing so is lower. Before exams, the opportunity cost of watching TV is higher as students prioritize studying. However, after exams, with no immediate academic commitments, the opportunity cost of watching TV decreases, leading students to indulge in this leisure activity more.
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
What calculates the opportunity cost?
Opportunity cost is something for the next porpose.
Is opportunity cost a relevant cost?
Yes, opportunity cost is a relevant cost because it can be used in something more productive.
What do you understand by the term opportunity cost?
Opportunity cost is what you give up in order to get something else. Paying money is the opportunity cost for ice cream for example.
Why does opportunity cost vary?
Opportunity Cost can vary depending on what you are giving up exactly.
What did sports and leisure change during the late 1800s?
urban families had more opportunity for diverse leisure activities than did rural families
What is the difference between constant opportunity cost and increasing opportunity cost?
Real cost is the price which is real not a fake price
Why do you need to understand Opportunity cost?
Opportunity cost is fundamental in understanding the true economist cost (and thus profitability) of actions.
Opportunity cost of holding money?
The opportunity cost of holding money is the nominal interest rate.
