Answer:
Sure, the opportunity cost to Mohammed of buying a new oven is the value of the next best alternative that he gives up by buying the oven. For example, if Mohammed could use the money he would spend on the oven to buy a new TV, then the opportunity cost of buying the oven is the value of the new TV.
Here are some other possible opportunity costs of buying a new oven:
* The money that Mohammed could save by buying a used oven.
* The time that Mohammed could spend on other activities if he didn't have to shop for and install a new oven.
* The opportunity to invest the money in something else that could generate income.
The opportunity cost of buying a new oven will vary depending on Mohammed's individual circumstances. However, it is important to consider the opportunity cost before making a decision about whether or not to buy a new oven.
Here are some factors that Mohammed should consider when calculating the opportunity cost of buying a new oven:
* The price of the new oven.
* The cost of installation.
* The value of the next best alternative that Mohammed gives up by buying the oven.
* Mohammed's individual circumstances, such as his income, savings, and time constraints.
By considering the opportunity cost, Mohammed can make a more informed decision about whether or not to buy a new oven.
Step-by-step explanation:
Hope this helps