doctor has a private clinic in New Delhi and his annual earnings are ₹.10 lakh. If he
works in a government hospital in New Delhi, his annual earnings will be ₹.8 lakh.
What is the opportunity cost of having a clinic in New Delhi?
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Answer:
opportunity cost is cost forgone due to availing another opportunity
Explanation:
in the given example if doctor opt for clinic in delhi which give him income of 20 lakh n for availing this opportunity he forgone the other opportunity that's not working in govt hospital
so opportunity cost is 8 lakh
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