Describe what the real cost the opportunity cost

Reference no: EM13237863

1. We measure opportunity cost in monetary value. Suppose you spend $100 for new clothes. You will say that the clothes cost you $100. But the money you spent is not the real cost of the new clothes. Describe what the real cost----your opportunity cost-----would be if you spent $100 on new clothes.

2. If you watch television for two hours, you don't spend any money. Does this mean that you bear no opportunity cost for watching TV?

Reference no: EM13237863

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