The present lockdown due to COVID 19 has resulted in temporary suspension of businesses and services provision. Doctors are no more in a position to continue the provision of their professional services to earn their livelihood. Keeping the concept of opportunity cost in mind, identify and work out the opportunity cost they have been bearing to stay at their home.
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Explanation:
Some economists now believe that the per week cost of a lockdown is higher than what they had previously estimated
The lockdown to reduce covid-19 spread has been both a demand and a supply shock to the economy.
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Explanation:
The present lockdown due to COVID 19 has resulted in temporary suspension of businesses and services provision. Doctors are no more in a position to continue the provision of their professional services to earn their livelihood. Keeping the concept of opportunity cost in mind, identify and work out the opportunity cost they have been bearing to stay at their home.
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