Opportunity costs are costs that are given up/ not chosen. It's asking for the O.C. for televisions to be repaired. $76,000-43,000=$33,000 of Opportunity costs lost.
In microeconomic proposition, the occasion cost of a particular exertion is the value or benefit given up by engaging in that exertion, relative to engaging in an indispensable exertion. further simply, it means if you chose one exertion you're giving up the occasion to do a different option.
The optimal exertion is the bone that, net of its occasion cost, provides the lesser return compared to any other conditioning, net of their occasion costs. For illustration, if you buy an auto and use it simply to transport yourself, you can not rent it out, whereas if you rent it out you can not use it to transport yourself. In introductory equation form, occasion cost can be defined as" Opportunity Cost = ( returns on stylish Forgone Option)-( returns on Chosen Option)."
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