Opportunity Cost Of Skiing
Any monetary costs from going skiing, as well as anything you lose by going skiing, wages or time studying.
The cost of skiing instead of going to the library to study is the costs associated with skiing along with the knowledge that could of be gained by going to the library. Since the cost of going to the library cannot be measured in monetary terms, it will vary from person to person. A person who needs to study for a final to be taken on Monday may give up more than someone who is going to the library to work on a project that is not due for a few weeks.
Page 18 question 4
The opportunity cost of spending the $100 now is the additional $5 I would earn in interest after 1 year.
Page 36 question 3
When new technology emerges that produces
The cost of skiing instead of going to the library to study is the costs associated with skiing along with the knowledge that could of be gained by going to the library. Since the cost of going to the library cannot be measured in monetary terms, it will vary from person to person. A person who needs to study for a final to be taken on Monday may give up more than someone who is going to the library to work on a project that is not due for a few weeks.
Page 18 question 4
The opportunity cost of spending the $100 now is the additional $5 I would earn in interest after 1 year.
Page 36 question 3
When new technology emerges that produces