Using the example I just gave, assume you earn $15 an hour at work and a ticket to a 2-hour movie is $10. If you take 2 hours off work to go to the movie, your opportunity cost of going to the movie is $10 (ticket cost) – (-$30) (lost wages) = $40. In this case, subtracting the negative cost of the foregone choice resulted in an additional positive cost.
Discuss the opportunity costs of your visiting the emergency room. Calculate (in $$$) your opportunity costs of health care.
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