00:01
So here we're talking about opportunity cost.
00:02
And let's start by defining it, right? opportunity cost is value of foregone alternatives, right? it's what you gave up when you made a choice, right? it's not how much you paid.
00:16
It's what you gave up, what you gave up to get this thing.
00:20
So here we are going to a movie, right? we are going to a movie, and we have to think about the opportunity cost.
00:27
So let's go through each of these, right? so we have, first of all, the price of the ticket plus the cost of food.
00:40
So that's one option.
00:42
B, we have cash expenditure plus time.
00:49
And i'm just writing these first two things out because you can see immediately here that this one is wrong...