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What is your opportunity cost of being enrolled in our ECON-102 class? Explain the cost-benefit analysis and give examples.

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Insha Fatima
Insha FatimaLv10
28 Sep 2019

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What is your opportunity cost of being enrolled in a class? Explain the cost-benefit analysis and give examples.

What is your opportunity cost of being enrolled in a class? Explain the cost-benefit analysis and give examples.

Give an example of how the Principle of Opportunity Cost applies to your life. Think of a recent decision you made. It could be a decision as simple as whether to eat out or cook your own dinner, or it could be a decision to quit your job and go back to school. What alternatives did you consider? How did you arrive at your final decision? Did you implicitly weigh marginal cost and marginal benefit? How does the concept of opportunity cost apply to production possibilities curve (PPC) analysis? How can we use PPC analysis to examine what we do?

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