Trinh quits his $80 000-a-year job to become a full-time volunteer at a museum.What is the opportunity cost of his decision?

Question

Quizplus · Accepted Answer

The opportunity cost of Trinh's decision is the value of the next best alternative that he gave up, which in this case is his $80,000 salary. Even if he is not earning a salary as a volunteer, he gave up the potential income he could have earned if he had continued in his previous job. Therefore, the opportunity cost of his decision is at least $80,000.

Trinh Quits His $80 000-A-Year Job to Become a Full-Time