Question

In the spring, james likes to spend afternoons at the park. what is his opportunity cost of him doing this? no opportunity cost since he is doing an activity he enjoys the opportunity cost is the value of the next best alternative of his time - how he would spend his afternoons if he wasn't at the park the opportunity cost is the value of the sum of all other things he could do instead of going to the park

Answer 1

In the Spring, James likes to spend afternoons at the park. What is his opportunity cost of him doing this? The opportunity cost of James spending the afternoon at the park is what he is giving up his time by doing since he could be doing something else. When you have opportunity cost, you are giving up one thing an opportunity, in exchange for doing something else.

Answer 2

The correct answer is A, No opportunity cost since he is doing an activity he enjoys.

Step-by-step explanation:

In springs, James like to spend his afternoons in the park. This is his routine and he goes to the park in his spare time to get some enjoyment and relaxation. So he is not leaving anything behind in order to get this relaxing time. Since this is his spare time, there is no opportunity cost involved in his this activity. Rather he is enjoying this time and getting relaxed.