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March 30, 2017

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We make choices as consumers every day. Opportunity cost is defined as a person’s "next best alternative" or "the cost of what you give up when you make a choice."

Think of a recent decision you made regarding your career. What was your opportunity cost for making that choice? What was your "next best alternative"?

  • Economics305 - ,

    How would you like us to help you with this assignment?

  • Economics305 - ,

    Ms. Sue,

    Answer the question the way it is.

  • Economics305 - ,

    OK.

    Since I retired almost 15 years ago as a teacher, so I've made no "recent decisions" about my career.

  • Economics305 - ,

    Fifteen years ago I decided to retire. I gave up income and increased credits for my pension.

    My next best alternative was to work as a substitute teacher to continue earning some income.

  • Economics305 - ,

    Just a minute! Please understand that this is a HELP site, after you DO what you can. Please do not ask us to answer YOUR homework questions. How do we know what decisions you have made?

    Sra

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