Question

Define total opportunity cost

Answer 1

Heya...

Total opportunity cost...

It means the total cost what we have to sacrifice when we r shifting from opportunity 1 to opportunity 2....

Example.. if a person is earning 10000 RS... but he joined a new job of 15000 RS and left the job of 10000 RS....

So the first job of 10000 ID it's total opportunity cost which he is letting for new one which is the best alternative ...