Question

Suppose a student has 4 hours where he can either study or play tennis. What is the opportunity cost of studying

Answer 1

Answer:

(a) the opportunity cost will be 4 hours since he chose to study instead of play tennis he has sacrificed the 4 hours of playing tennis

Explanation:

"Opportunity cost" represents the advantages that a person, an investor or business loses when deciding between alternatives.

The benefit not received by not selecting the next best option is the opportunity cost. "Opportunity costs" are a core economic principle and expressed as "the essential link between scarcity and choice"

In attempts to make efficient use of scarce resources the concept of "opportunity cost" plays a crucial role.

Explanation:

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