Opportunity_Cost_OH

Opportunity_Cost_OH - composite cost. 4. Opportunity cost...

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Opportunity Cost E. Lau 1. Opportunity cost of any action is measured by the best alternative(s) foregone. 2. Benefits foregone is considered as an opportunity cost. 3. Opportunity cost is NOT all the possible alternatives foregone . It can be a
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Unformatted text preview: composite cost. 4. Opportunity cost is different for everyone. 5. We can use opportunity cost to measure the value of intangibles; i.e. time saved in $ value, value of life....
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This note was uploaded on 12/16/2010 for the course ECON 101 taught by Professor Vanderwaal during the Fall '08 term at Waterloo.

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Opportunity_Cost_OH - composite cost. 4. Opportunity cost...

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