Quantcast

Got Homework?

Connect with other students for help. It's a free community.

  • across
    MIT Grad Student
    Online now
  • laura*
    Helped 1,000 students
    Online now
  • Hero
    College Math Guru
    Online now

Here's the question you clicked on:

55 members online
  • 0 replying
  • 0 viewing

shekib Group Title

what is the meaning of opportunity cost

  • one year ago
  • one year ago

  • This Question is Open
  1. Tod Group Title
    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.

    • one year ago
  2. greenworld666 Group Title
    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.

    • one year ago
  3. ngenshieamoskwanshezi Group Title
    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 months ago
    • Attachments:

See more questions >>>

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.