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Example class

Opportunity cost

Introduction to Microeconomics · Class 1 of 6 · Source: Brief: first-year micro, one hour on opportunity cost

BriefOpportunity cost. One hour.
DraftIntro micro · class 1 of 6
HourTutor, reading, lecture
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Materials for this class

Progress

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  • Define opportunity cost as the value of the next-best alternative

  • Include both explicit and implicit costs in the accounting

  • Apply the idea to a simple choice (work vs concert)

  • Say why “the ticket price” is not the full cost

Source: Brief: first-year micro, one hour on opportunity cost

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