Question

Suppose you find $20. if you choose to use the $20 to go to the football game, your opportunity cost of going to the game is:_______

Answer 1

Suppose you find $20. if you choose to use the $20 to go to the football game, your opportunity cost of going to the game is $20.

The opportunity cost is time spent analyzing and that money to spend on something else. A farmer chooses to plant wheat; the opportunity fee is planting a specific crop or alternate use of the assets (land and farm machine).

Opportunity value is a financial term that refers back to the cost of what you need to give up so that it will choose something else. In a nutshell, it is a price of the road not taken.

Whilst economists talk to the “opportunity cost” of a useful resource, they imply the fee of the following-maximum-valued opportunity use of that aid. If, for an instance, you spend time and money going to a film, you cannot spend that point at domestic analyzing an ebook, and also you cannot spend the cash on something else.

Learn more about opportunity costs here: brainly.com/question/481029

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