0
Opportunity Cost: if you are doing any work and getting money at 10$ per hour for seven hour then if you stop working and start watching cricket match then you lost those 70 $ by watching that cricket match so at that moment opportunity cost of watching match is 70 $ for you which you lost due to cricket match.
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
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
Give two other examples of opportunity cost that would affect groups other than consumers?
gay people and you guys who are watching right now
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.
How can you watch?
http://www.yuvitube.com watch online Tennessee sports, wwe match, wwe news, wwe game, cricket live score, cricket match live, cricket live online free of cost, cricket test match, watch softball sports, listen wwe music.
How can you watch sports?
http://www.yuvitube.com watch online Tennessee sports, wwe match, wwe news, wwe game, cricket live score, cricket match live, cricket live online free of cost, cricket test match, watch softball sports, listen wwe music.
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.
How can you find the opportunity cost of a country k produces five hundred military guns and thirty television set?
The opportunity cost is the labor and resources that go into producing 500 guns and 30 tv sets that could have been used elsewhere. The "elsewhere" is the opportunity cost. For example, if you make $10/hr working and you decide to sit home watching tv for 2 hours instead of working, your opportunity cost is $20.
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 is the cost of cricket attax?
The cost of cricket attax is rs fifteen (15)
Give two other examples of opportunity cost that would affect groups other than consumers?
gay people and you guys who are watching right now
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 does increasing marginal opportunity cost mean?
As we decide to choose more units of anything, the opportunity cost of each additional unit will rise. This means that the opportunity cost of the second unit will be greater than that of the first unit. The opportunity cost of the third unit will be greater than that of the second unit. And so forththe law of opportunity cost states that the more of a product that is produced,the greater is its opportunity cost,hence increasing marginal opportunity cost in simple terms refers to an extra or additional opportunity cost of foregoing other products to produce a unit of another product
