Posted by Mizzy Kay on Monday, February 8, 2010 at 4:36pm.
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 - Ms. Sue, Monday, February 8, 2010 at 4:55pm
How would you like us to help you with this assignment?
Economics305 - Mizzy Kay, Monday, February 8, 2010 at 5:18pm
Answer the question the way it is.
Economics305 - Ms. Sue, Monday, February 8, 2010 at 5:23pm
Since I retired almost 15 years ago as a teacher, so I've made no "recent decisions" about my career.
Economics305 - Ms. Sue, Monday, February 8, 2010 at 5:25pm
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 - SraJMcGin, Monday, February 8, 2010 at 11:08pm
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?
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