What is opportunity cost?

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Posted by Gurpreet Bhullar 7 years, 6 months ago
- 3 answers
Sakshi Sharma ??️??️??️ 7 years, 6 months ago
Aahan Sharma 7 years, 6 months ago
It refers to the value of next best activity which has to forego.
A teacher gets 50,000, if he leaves job and do tuition work and gets 60000, so his opportunity cost is 50000 ie teaching job as he go with best and next best is opportunity cost.
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Nitin Jha 7 years, 6 months ago
1Thank You