Quantcast

A community for students. Sign up today!

Here's the question you clicked on:

55 members online
  • 0 replying
  • 0 viewing

shekib

  • 2 years ago

what is the meaning of opportunity cost

  • This Question is Open
  1. Tod
    • 2 years ago
    Best Response
    You've already chosen the best response.
    Medals 1

    It's the cost of the forgone choices when you make your decision. For instance, when you choose to read a text book for 2 hours on Sunday, you give the choice of have fun with your friends during the 2 hours.

  2. greenworld666
    • one year ago
    Best Response
    You've already chosen the best response.
    Medals 0

    so "having fun with your friends" instead is the cost you paid while you chose to read a textbook.

  3. ngenshieamoskwanshezi
    • 9 months ago
    Best Response
    You've already chosen the best response.
    Medals 0

    it is the best next alternative forgone. for instance a student needs a textbook, school bag and a pair of shoe. But because of financial constraint he/she boughts only the textbook. The opportunity cost is the school bag because it is the next on the list.

  4. Not the answer you are looking for?
    Search for more explanations.

    Search OpenStudy
    • Attachments:

Ask your own question

Ask a Question
Find more explanations on OpenStudy

Your question is ready. Sign up for free to start getting answers.

spraguer (Moderator)
5 → View Detailed Profile

is replying to Can someone tell me what button the professor is hitting...

23

  • Teamwork 19 Teammate
  • Problem Solving 19 Hero
  • You have blocked this person.
  • ✔ You're a fan Checking fan status...

Thanks for being so helpful in mathematics. If you are getting quality help, make sure you spread the word about OpenStudy.

This is the testimonial you wrote.
You haven't written a testimonial for Owlfred.