Opportunity cost ????

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Opportunity cost ????

• Chapter 9.1

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1.Cost is the highest-valued option forgone

• All cost are opportunity cost and are measured in
  terms of opportunities forgoneand only the
  highest-valued option forsaken is counted as
  cost.

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Example??

• ??????????,?????????????
• A)???A(100?)
• B)???B(80?)
• C)???C(60?)

????????
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• ????????????????????
• (Postulate of maximization)
• ??????????,??????????????,?100?????A
• ???????(cost)??80?????B

• Q???????????????C???????B?C??

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• A???????????,?????????????????
• ?????A?,?????????B?C???
• ????B????C?,???????????A,????????B
• ???????? (highest-valued option
  forgone)?????,???????B

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QWhy is cost defined as the highest-valued
option forgone?

• The postulate of maximization implies that only
  the highest-valued option forgone is relevant to
  the choice of an individual

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• ?????,????????B????,?????B???80????200?
• ??? value of highest-valued alternative
  ?200,????????A??
• ??? maximization ????,?????????????
• ? cost ??? "highest"-valued option forgone
  ???????,??? maximization ????,"highest"-valued
  alternative ????????????????

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2.Cost is based on value

• A)?????
• B)??
• C)???
• ???????????(value),????????????????,?????????,????
  ??

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??

• ???????????????????????(????????????!)
• ????????????????????(???????)

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3. cost includes all features in the best option
forgone

• cost is not restricted to the material
  sacrifices in a choice
• For example
• a)?????????
• ????????,???????????????.????????????,??????????,
  ????????????,?????????,????????????????????(cost)?
  ?

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• cost can exist even if there is no market price
• ???????,????????????, ??????(scarcity),????(cost)?
  ????.
• ???????,?????????.

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4. accounting costs need not be costs

• ????1000 , ????????A???B??
• ???A??????10,000(present value)
• ?B??????5,000(present value)
• ????A?????(cost)????
• ????1000??
• ?!
• ???B?????,5,000
• ????1000?????(accounting cost)
• ?????

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• ?????A???B??????,
• ?????????1000????(opportunity cost)?????,
• ??????????

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• ??the postulate of maximization,
• ????????????,???????A??,
• ??????????????1,000,?B?????5,000
• ??????A???????????B??,
• ??????B???????5,000??,
• ??,??A?????(opportunity cost)?????B?????5,000.
• ?????A???1,000.

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5. higher costs are not always undesirable

• higher costs only mean better option are
  available
• for example
• a)????????,??2???????5??????.?????????(???????oppo
  rtunity cost)
• ???
• -

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• ?????????(opportunity cost)??,??????????8???,?????
  ?????12??
• -????????(opportunity cost)??,???????????
• -??????(opportunity cost)??????????????,??????????
  ?????

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