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Dafna11 [192]
3 years ago
5

In your own words, explain what opportunity cost is? Did you know about this concept? Give an example.

Business
1 answer:
Lyrx [107]3 years ago
8 0

Answer:

A student spends three hours and $20 at the movies the night before an exam. The opportunity cost is time spent studying and that money to spend on something else. A farmer chooses to plant wheat; the opportunity cost is planting a different crop, or an alternate use of the resources (land and farm equipment).

Explanation:

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