Opportunity Cost Examples - YourDictionary
examples.yourdictionary.com › opportunity-costMr. Brown makes $400 an hour as an attorney and is considering paying someone $1000 to paint his house. If he decides to do it himself, it will take four hours. His opportunity cost for doing it himself is the lost wages for four hours, or $1600. With these examples you can see what opportunity cost means and how it can apply in different situations.
Opportunity Cost Example (With Definition and How-To Guide)
www.indeed.com › opportunity-cost-exampleApr 14, 2020 · Opportunity cost example. Here's an opportunity cost example you can reference using the pernicious steps in a realistic scenario: 1. Assess the situation. You recently inherited $50,000. You currently have a job that supports your cost of living and you have no debt. After performing some research, you find that you can put the money in a savings account that accrues 1% interest every year, or you may hire a financial adviser to potentially get a 5% return per year, which already includes ...