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Opportunity Cost
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Married women’s participation in paid works increased from 6% in 1900 to about 60% in 2005. Many factors contributed behind this change, including the invention and growing availability of home appliances. Explain this change using the concept of opportunity cost.
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This is part of your course to show you understand opportunity cost
Not ours. For other punters on AB
SUppose you employ a clerk to run a jolly Jan 22 which will bring in £1000 and it takes him 4 hours
but the whole things is cancelled - well the thousand goes out of your budget for Jan 22 - so -1000 goes in the Jan 22 column, but it is NOT a loss although it looks like it
it is revenue not obtained
but there is also an opportunity cost - the clerk cd have spent his 4 hrs ( at £25 / h) doing something more productive
so....
1900 - leddy spends four hours brushing a carpet
but now spend an hour hoovering it
and that frees up three hours to produce little plastic dollies in a factory and get paid for it
or not .... I cant work up an interest
( I didnt pass this exam by the way)
Not ours. For other punters on AB
SUppose you employ a clerk to run a jolly Jan 22 which will bring in £1000 and it takes him 4 hours
but the whole things is cancelled - well the thousand goes out of your budget for Jan 22 - so -1000 goes in the Jan 22 column, but it is NOT a loss although it looks like it
it is revenue not obtained
but there is also an opportunity cost - the clerk cd have spent his 4 hrs ( at £25 / h) doing something more productive
so....
1900 - leddy spends four hours brushing a carpet
but now spend an hour hoovering it
and that frees up three hours to produce little plastic dollies in a factory and get paid for it
or not .... I cant work up an interest
( I didnt pass this exam by the way)
Only 1 answer
