economics- opportunity cost
posted by Anonymous .
how does opportunity cost vary?
why does opportunity cost vary?
for why i put: Opportunity cost is different for every individual. It varies depending on the choice you make.
i'm not sure about "how" it varies though.
Opportunity cost, for an individual, will change if relative prices change. E.g., for me, the opportunity cost of a Big Mac is about 3 double cheeseburgers. What would happen to my opportunity cost if the price of Big Macs changed, but cheeseburgers remained the same?
Opportunity cost can also change with changing tastes
this is confusing i hate business studies!!!!!!!]
For how the opportunity cost vary?
Answer: Because its expressed in relative price, and it price of one choice to the price of another.
what does thinking at the margin help compare
I can't wait to get out of this indoctrination center!!