View the video \"What Is Opportunity Cost,\" located in Topic Materials. In this
ID: 1155484 • Letter: V
Question
View the video "What Is Opportunity Cost," located in Topic Materials. In this video, a little girl interrupts her father who is reading and asks him to come out and play. The father is faced with a choice, which is a clear opportunity cost. Discuss the opportunity cost with which the father is presented? What is the opportunity cost for the little girl spending time with her father? Does she have an opportunity cost? Is there always an opportunity cost present in any given situation? Please explain.
Explanation / Answer
The opportunity cost of the father is reading because he will forego reading to play with his daughter.
The opportunity cost of the daughter is doing anything else during that time like sleeping,studying,watching television or any other activity
There is always an opportunity cost because there are plenty of activities or work we can do at a particular time and to perform one activity,one must forego the other one.
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