This is a class discussion question that needs to be answer with at least 125 word count. No Plagiarism please.
Let me ask you a practical question related to opportunity costs. Some years ago one of the students in son’s middle school passed away due to a house fire. That students was from a south American country and they wanted to take the body home fro a funeral. So naturally school solicited funds, and I gave $50 for the cause and my son gave $5 what he had with him the day school collected money from students. In fact he doesn’t earn a penny and relying on what ever he got from the parents. Question is: whose opportunity cost was the larger contribution?
Class–Any thoughts or comments?