Homework Answers
opportunity cost refers to loss of monetary or non-monetary gains of a person for not choosing an alternative. Here student sacrifices her study time for doing part time job that caused decrease of her grade point average from 3.5 to 2.9 i.e., a loss of 3.5-2.9=0.6 grade point average.
Therefore, the opportunity cost of taking the job is the
0.6 decrease in the grade point average
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