Microeconomics- USE PROVIDED SOURCES

You are expected to make your own contribution in a main topic as well as respond with value-added comments to at least two of your classmates. You are encouraged to respond to other students as well as to your instructor.

Please choose one case to answer the question from the list below. 

Reflection – the students also should include a paragraph in the initial responsein their own words reflecting on specifically what they learned from the assignment and how they think they could apply what they learned in the workplace.

1. You are standing in line. Think about what you would be doing if you are not in this line. The alternatives are infinite and computing the cost of them all is impossible. However, since you could only be doing one thing (not all of them) if you are not in this line, determining the opportunity cost requires only knowing the one thing you would be doing. Calculate (in $$$) your opportunity costs of standing in line.

http://blogs.reuters.com/ben-walsh/2013/09/20/the-opportunity-cost-of-buying-iphones-and-cronuts/

https://money.cnn.com/2017/08/25/news/harvey-costs/index.html

https://www.chicagomaroon.com/2012/04/13/opportunity-cost/

https://www.nytimes.com/2016/09/07/well/move/whats-the-value-of-exercise-2500.html

https://www.youtube.com/playlist?list=PL336C870BEAD3B58B