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Think of the last important decision you made about how to allocate your time. What were...

Think of the last important decision you made about how to allocate your time. What were your opportunity costs? Did you make the right decision?

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Answer #1

The last important decision I made to allocate my time was to study for two extra hours in the evening, rather than going out to play.

The opportunity cost of studying was the lost pleasure that could have been received, had I played badminton with my friends.

Yes, I made a right decision because my opportunity cost of playing was very high (since I have my exams approaching and it is important to study for exams, with not much time left for them).

Opportunity cost of studying was low because I can easily play the same game tomorrow or day after tomorrow but the exam date is fixed and cannot be postponed.

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