Explain what condition under which opportunity cost may be 0,1 or more than 1?


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Cody Deegan answered

Before asking that question, you must know first the meaning of opportunity cost. Opportunity cost is the forgone value of your choice. For example, you are in the dilemma of whether you are going to your class or not. If you chose to go to your class then the forgone value is that you missed the chance of cutting class to go somewhere else, let's say a movie house. If you chose to skip class, the opportunity cost is the learning that you would have gotten from the class as well as the money spent by your parents to your school.

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