1 we measure opportunity cost in monetary value suppose you, Econometrics

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1 we measure opportunity cost in monetary value suppose you

1. We measure opportunity cost in monetary value. Suppose you spend $100 for new clothes. You will say that the clothes cost you $100. But the money you spent is not the real cost of the new clothes. Describe what the real cost----your opportunity cost-----would be if you spent $100 on new clothes.

2. If you watch television for two hours, you don't spend any money. Does this mean that you bear no opportunity cost for watching TV?

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Econometrics: 1 we measure opportunity cost in monetary value suppose you

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Econometrics: 1 we measure opportunity cost in monetary value suppose you

Reference No:- TGS0576585

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Reference No:- TGS0576585

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