you have 1000 RS. as your pocket money. you can deposit this money in bank and get 1100 RS. after an year. what is opportunity cost of keeping the money as cash in hand?
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Answer: Opportunity cost is the cost of next best alternative that is given up to obtain some other thing.
So, in this case OC will be Rs.100 . Because it is given up by keeping the money in hand.
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Answer:
opportunity cost refers to value of a factor in its next best (or second best ) alternative use.
Explanation:
so,in case of cash in hand. OC will be rs.100
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