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

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Dominic

26 September, 10:09

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

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Simone Pacheco · 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.