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What is the opportunity cost in this scenario

What is the opportunity cost in this scenario-example-1

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The opportunity costs are fishing, going to his friend's party, and painting his apartment.

User Marshall
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7 votes

Answer:

Opportunity costs will be going to fishing and birthday celebration.

Step-by-step explanation:

  • As in the scenario the opportunity cost is the cost that associate with losing one thing or gaining the time sent in the other event. As Harry has been working he wants to have a weekend off and plans to paint his apartment which he originally thought and gets the call form his parent of a dinner and later he was also informed by his friends of a birthday party.
  • So Harry decides to go with his parent for a dinner in a restaurant as he also misses them as he remains busy and drops the opportunity of going to the birthday of his friend as he can meet his friends the next day, and can go fishing with them thus he has to lave one thing for another.
User Luiz Ferraz
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5.8k points