The opportunity cost of working is the

Name: The opportunity cost of working is the
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Opportunity cost refers to the value of the next best alternative that must be given up in order to pursue a certain action. In the case of working, the opportunity cost is the value of leisure time that must be given up in order to work. The wage rate and earnings in alternative jobs are not opportunity costs, they are simply alternative forms of compensation for work.

The Opportunity Cost of Working Is the