The opportunity cost is going to the mall.
As the definition of opportunity cost is "the next best alternative forgone" and the two choices available are going to the movies or going to the mall, if going to the movies is chosen then going to the mall is the is the option forgone (or given up).
When there are three or more options to choose from the opportunity cost can only be established when the options are ranked in order of preference to determine the second most desirable option (the next best alternative) as there is only ever one opportunity cost.
BGstart So how do you decide? You first have to recognise your goal ior goals. In a simple case it might be to get to know your new girlfriend better. Now it is fairly easy. Assume a scale of 0 to 10. What do you imagine the change will be after the visit to the cinama,and what after the visit to the mall. Say 2.5 for the movie and 1.5 for the mall. So if you choose the Movie you have gained 1.o, A simpler case would be if you had the choice of taking her to one place and had to choose whether or not to do so. Not taking her to the movie woulf cost 2.5, not taking her to the mall would cost 1.5. It would have been a lot easier if it had just been money. This way you have to know what you want out of life and how to measure against its scale. endBG
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
Look up Production Possibility Frontier, it is the same thing as a Opportunity Cost Curve.
opportunity cost of x is equal to y over x. The answer then becomes the slope for the graph.
Opportunity cost is like choosing between spending money on a new phone or a vacation. If you pick the phone, the cost is not just the price of the phone, but also the missed opportunity to go on vacation. So, the opportunity cost is the value of the next best alternative that you give up when making a decision.
Pony
Some examples of opportunity costs are:giving up your favorite movie to study (in order to get good grades). The opportunity cost is the movie that has been forgone.attending Baseball training (in order to be a better player) instead of going to your favorite night club when the best artiste would be performing; the club has been forgone/opportunity cost/best next alternative.Opportunity costs are the benefits you could have received by taking an alternative action.
Some examples of opportunity costs are:giving up your favorite movie to study (in order to get good grades). The opportunity cost is the movie that has been forgone.attending Baseball training (in order to be a better player) instead of going to your favorite night club when the best artiste would be performing; the club has been forgone/opportunity cost/best next alternative.Opportunity costs are the benefits you could have received by taking an alternative action.
fixed cost
the opportunity cost of an item is what you give up to get that item. in this case, you want to see a movie, so you may have to give up the movie time to study or something else, that is your opportunity cost.
The good grade Logan will receive as a result of studying
Opportunity cost refers to the benefits that are forgone when choosing one option over another. Examples of opportunity cost in decision-making processes include choosing to study for a test instead of going out with friends, investing in stocks instead of saving money in a bank account, or spending time volunteering at a charity instead of working a part-time job for extra income.
Opportunity cost is the value of the next best alternative that is foregone when a decision is made. For example, if you choose to go to a concert instead of studying for an exam, the opportunity cost is the potential higher grade you could have achieved if you had studied instead.
An opportunity cost is the value of the next best alternative that is forgone when a decision is made. For example, if you have 20 and you choose to spend it on a movie ticket, the opportunity cost is the value of what you could have purchased with that 20 instead, such as a meal or a book. This concept helps individuals and businesses make informed decisions by considering the trade-offs involved in their choices.
Opportunity cost is the value of the next best alternative that is forgone when a decision is made. For example, if you choose to spend money on a vacation, the opportunity cost is the potential investment or savings you could have made with that money instead.
Opportunity cost is the cost that an opportunity presents. The opportunity benefit is the benefit of the opportunity that is being presented.
The opportunity cost of choosing to work instead of attending school is the potential benefits and opportunities that could have been gained from getting an education, such as higher earning potential, career advancement, and personal development.
The main opportunity costs for going to college are time and money. However, there are also cases where someone may lose the opportunity to start a business or launch a product. If they wait, it may be too late and the opportunity completely lost.