Question

Give an example of some action that has both a monetary and nonmonetary opportunity cost​

Answer 1

Answer:

Give an example of some action that has both monetary and nonmonetary opportunity cost: Pretty much any action can be argued to have both. For in stance, being in class has the opportunity cost of time you could be spent earning wages, or time that could've been spent leisurely.

Explanation:

Answer 2

Opportunity cost is explained below with proper example.

Explanation:

• Opportunity cost is the loss of value (or cost) that is incurred by engaging in the activity, relative to engaging in an alternative activity offering a higher return.
• It may be monetary (when the value lost is money) or non-monetary (when the value lost is not money but other benefits like time, space etc.).

Staying home to study instead of going to watch movies with friends would result in both a monetary and non-monetary opportunity cost, we can save money by not going to movies and invest that time to study and gain knowledge beneficial to make a successful career.