What is the opportunity cost of the labor employed


A new public works project requires 200,000 hours of labor to complete. If the labor market is competitive and the market wage is $15/hour, what is the opportunity cost of the labor employed? Suppose there is unemployment among workers and some workers would be willing to work for $10/hour. If half of the labor hours are completed by the previously unemployed workers, what is the opportunity cost of the labor employed?

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Microeconomics: What is the opportunity cost of the labor employed
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