TD-Opportunity Cost-Dr. BabbWelcome to BUS 305! You can use this forum to interact with your classmates and apply the economic concepts from the module to the questions below:1. Introduce yourself to the class (name, geographic location, interests, etc.).My name is Dean and I am a Command Sergeant major in the US Army. I just gave up my position of three and a half years as the Commandant of the Fort Sill NCO Academy. I am now preparing to retire with only a few classes left to achieving my Bachelors Degree and then on to a Masters. I have 4 children and 5 grandchildren, served 27 years and am looking forward to a new career. I reside in Lawton, Oklahoma, where the jobs are plentiful, the cost of living is outstanding, and the pace of life is slow.2. One of the economic terms in module 1 is opportunity cost. Define opportunity costs in your own words.Opportunity cost is simply stated as tit-for-tat. What are you willing to pay for now and forego at this moment for benefit of the future.
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