Question

if you take 5 hrs for economic assignment and 3 hours for science. opportunity cost for...

if you take 5 hrs for economic assignment and 3 hours for science. opportunity cost for doing five science assignment?

Homework Answers

Answer #1

Answer : Opportunity cost for doing 5 science assignment is 3 economic assignment.

Oppurtunity cost basically refers to the value of the benefit of next best alternative that is forgone by choosing an alternative. It is given that economic assignment requires 5hrs and science assignment requires 3 hrs. Therefore time required to do 5 science assignment is 3hrs multipled by 5 which is 15hrs. And in this 15hrs we can do 3 economic assignmnet(15/5). Therefore by doing 5 science assignment we have forgone the benefit from 3 economics assignment.Therefore opportunity cost for doing 5 science assignment is 3 economic assignment.

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