OPPORTUNITY COST OF STUDYING ECONOMICS – Activity 1

Since opportunity cost is the value of the best alternative that is given up is does not include the value of all the alternatives that are given up, but only the value of the best alternative.  If that best alternative for you is not reading a book the value lost of not reading a book is part of your opportunity cost of going to the movies.

Since opportunity cost is the value of the best alternative that is given up is does not include the value of all the alternatives that are given up, but only the value of the best alternative.  If that best alternative for you is not reading a book the value lost of not reading a book is part of your opportunity cost of going to the movies.

Since opportunity cost is the value of the best alternative that is given up is does not include the value of all the alternatives that are given up, but only the value of the best alternative.  If that best alternative for you is not reading a book the value lost of not reading a book is part of your opportunity cost of going to the movies.

Opportunity cost is a broader concept than simply the amount you have to pay, because it also includes the best alternative that you have to give up in order to do what you are doing.

It is therefore the cost of a movie ticket plus the pleasure of not reading a book if reading a book is the best alternative that is sacrificed.

Opportunity cost is a broader concept than simply the amount you have to pay, because it also includes the best alternative that you have to give up in order to do what you are doing.

It is therefore the cost of a movie ticket plus the pleasure of not reading a book if reading a book is the best alternative that is sacrificed.