Question

When I graduated from college, I had the option of working at a Richmond television station as the weekend weather person. This job would have paid $20,000. Instead of taking the job as the weather person, I chose to work as a producer for a local sports coaches show. This position paid $35,000. What was the opportunity cost of taking the job as the producer versus the weather person? Group of answer choices $20,000 $35,000 $55,000 There was no opportunity cost.

Answer 1

Answer:

$20,000

Explanation:

The opportunity cost of an activity or an invested is the lost benefits or extra costs associated with choosing one activity or investment over another alternative. In this case, the opportunity cost of becoming a producer is the lost wages of being a weather man. Instead, if he had decided to become  a weather man, the opportunity costs would have been the lost wages as a producer.