Home » Forum: Week 2 – Opportunity Cost

# Forum: Week 2 – Opportunity Cost

Opportunity cost is defined as “the amount of other products that must be foregone or sacrificed to produce a unit of a product.” Another way to look at it is the value of the activity which is the next best use of your time. This exercise will ask you to relate this concept to decisions you make.

Post your responses to the following questions in the Opportunity Cost discussion forum:

1. What would you be doing with your time and energy if you were not taking this class? Explain the other activity in some detail. How do you value the cost of not doing the other activity? Be explicit in defining the costs associated with each activity. Put a value on each element. For example, I am trying to decide if I should go to a football game with the guys. I have an idea of the cost of the tickets, transportation, and the food and beverage. I clearly have the benefit of the enjoyment of the game. However, this is not all that needs to be considered. If I did not go to the game, what would I be doing? Well, I could take my wife out for dinner. How much value do I give to going out on a date with my wife? Or, I could spend time earning income. NOTE: Be careful, you cannot do everything. You must select the next best thing you would do with your time, energy, money. Once you have evaluated both uses of your time, are you still going to go to the game or are you going to take your wife to dinner? Now think of your own story about a tradeoff you have had to make, or will need to make in the future.
2. After you have posted your response review the posts of your other classmates. Respond to at least two of them (preferably to those who have not yet received responses), by identifying elements that perhaps the original posting may have overlooked or some considerations that should have been taken into account.

## Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
\$26
The price is based on these factors:
Number of pages
Urgency
Basic features
• Free title page and bibliography
• Unlimited revisions
• Plagiarism-free guarantee
• Money-back guarantee
On-demand options
• Writer’s samples
• Part-by-part delivery
• Overnight delivery
• Copies of used sources
Paper format
• 275 words per page
• 12 pt Arial/Times New Roman
• Double line spacing
• Any citation style (APA, MLA, Chicago/Turabian, Harvard)

# Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

### Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

### Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

### Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.