1. What might prevent you from making the best decision? 2. If there are several other things...
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1. What might prevent you from making the best decision?
2. If there are several other things you could have done, is the opportunity cost the sum of all of them?
3. Why is the cost of food not included?
4. What impact would it have to the calculation of opportunity costs if you really disliked the nature of the work in the best alternative job?
5. Is the opportunity cost to the individual of attending higher education different from the opportunity costs to society as a whole? Do the benefits of higher education for society differ from those for the individual?
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Related Book For
Essential Economics For Business
ISBN: 9781292728940
7th Edition
Authors: John Sloman, Elizabeth Jones
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