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What Is Opportunity Cost?

Marginal Revolution University 635 views

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Interesting
Comment from : @JoySantiago-r7v

very very nice
Comment from : @aviralgupta393

I enjoyed the background music more than the overall video
Comment from : @economicblast

Why does Ann have 30 fish and bob only has 10 bananas
Comment from : @cartermichaelpatrick1164

Interesting ✅
Comment from : @khangembamkumar7274

if they both get ready to give 2 fish for a banana, she'll get 15 bananas for 30 fish; 5 bananas more than she could have got all by herselfbr brAnd Bob will get 20 fish for 10 bananas, 10 fish more than he could have got all by herselfbrbrSo, for Ann, absolute opportunity cost of 3 fish is 1 banana brBut comparative opportunity cost of 2 fish is 1 banana brThus, she will get half banana extra for a fish brbrAnd for Bob, absolute opportunity cost of 1 banana is 1 fish brBut comparative opportunity cost of 1 banana is 2 fish brThus, he will get 1 fish extra for 1 bananabrbrSo Ann must specialise in fishing for extra the banana and Bob must grow bananas for the extra fish brwin win for both
Comment from : @Academy_of_Competitive_English

2:03 value addition
Comment from : @Academy_of_Competitive_English

Question : br1st choice : spend 2000 dollars br2nd choice : get 3000 dollars brIs the opportunity cost 5000 dollars if the 1st choice is chosen
Comment from : @caydengaming549

Anne is a goated fisher
Comment from : @naya6030

Glad I found this video of yours
Comment from : @chido5038

Sunday 5th May 2024 1512pm Thank you 👍
Comment from : @TheBullOfLewisham

got it thank you!
Comment from : @philip7056

In our dystopia, society DECIDES what the cost is secretly instead of it being organically decided based on supply and demands
Comment from : @ValidatingUsername

This is why I end up doing nothing Because I have too many ideas & options
Comment from : @frstchan

generally, whatever is sacrificed in lieu of another actionbr(ie work instead of study)brFML
Comment from : @RR_DM

No way ann catching 30 fish 😅
Comment from : @YuyutsuSingh

if a devoted dad have a choice of going to work or visit her child's performance in school, the opportunity cost of choosing the second option would be the money he could earn at work (if only paid for working hours), less travel, stress
Comment from : @XAE_A_Xii

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Comment from : @gjgifigogjdyeyyeoh3940

Let Bob Cook
Comment from : @mattdavis7450

Thanks, I have a test 😭😭😭
Comment from : @mistwolf360

Bob needs to men up
Comment from : @amarjeetvarya9672

yes un document en anglais pour faire l'exo de mme dubuisson
Comment from : @ethanbenjamin9918

I red but i couldn't understand and i had to go over and over until decided to watch your videos that made it easier with just a single watch Thank you so much Keep up with the good work
Comment from : @carolinesemele9066

It's like driving out of your way to buy cheaper gas
Comment from : @ds74878

Why are women always loss? 3 fish? Because she's a woman?
Comment from : @codenameeaglecooldown900

Nice animation great explanation Thank you I like that Ann is a Fisher woman and Bob is the farmer
Comment from : @MartaniPanganSehat

Awesoooooommmmememmememmemeememme
Comment from : @kalapaharmia2038

Making notes from this video is easy
Comment from : @phuntshoteechophel6375

Can someone give me a summary of what happened in the video?
Comment from : @Shotbyschu

NICE VIDEO LOL
Comment from : @Virtualworlddz

great explanation
Comment from : @aryastark9601

Ann scared the shit outta me
Comment from : @aryastark9601

Suiiiiiiiiiiiiiiiiiiii
Comment from : @ethann09

Very easy to understand
Comment from : @wonganisimwaka7912

Bob is kinda black on the picture, so him gathering bananas was a little racist, if u r progressive u take this down now ;)brbrbrbrbrbrbrkappa
Comment from : @lolucky_7545

Thanks ,
Comment from : @epicfail795

Thank you!! I am currently in high school taking up basic economics for extra credit 💖
Comment from : @suhani551

👍
Comment from : @musashahid123shahid4

thank you a lot, it is easy to understand, brilliant
Comment from : @adam20037

Why couldn’t she just still trade with her self
Comment from : @dominickbisignano9931

Well you tried to merge two concepts of micro economics and trade section Opportunity cost from micro economics and absolute advantage from trade section
Comment from : @shubham7844

Do people walk around with concepts of comparative value like that?
Comment from : @bgiv2010

Very explicit video Thank you!
Comment from : @japhetzila6235

very good
Comment from : @jude6446

Wow
Comment from : @minhtrang8437

Bob still working and refusing to retire, costs the jobs of 10 young people
Comment from : @fwwryh7862

This is why you rarely see Raigeki in Yugioh
Comment from : @bobfranklin2572

Am I the only one that picked up that intro is the same as the OG Minecraft trailer soundtrack?
Comment from : @tomwilson9685

I hate economics so much
Comment from : @Papiiimitch

excellent animation, simple, fun and helps make the point)
Comment from : @tjd110

In this example we can't determine if Ann is slower at retrieving bananas, or faster at retrieving fish than Bob There's no time variable All we know is it's more efficient to have Ann utilize her time to fish
Comment from : @jhoncena1111

THANK YOUUUUUUUUUUUI
Comment from : @user-nw2jk4xy1w

I gave up 15 minutes of trying to understand this term by reading a book to later understand this concept in under 3 minutes on YouTube Damn
Comment from : @OlyaSummers

big up this vid posted on my bday
Comment from : @thathorneyhorse1586

Ann looks kinda scary or is it just me
Comment from : @yumnaminhaj9949

Anne is good at fishing
Comment from : @chuckitaway466

My first time commenting on Lecture video on Youtube :p THANK YOU ! brI've been stressing over this IDK why professors like to make things look complicated even tough they're super easy?
Comment from : @ouessa8706

man this was the video, this was the one
Comment from : @freedagatz11

Well explained!
Comment from : @Breaux16

The frame rate of your video is killing me
Comment from : @wunderwaffeyt4077

Ann is creepy, so is Bob!
Comment from : @laxmisoni7258

Thank you MRU! Easy to understand and well presented You've got my sub :)
Comment from : @joelkisker5916

Thank you Hashinshin
Comment from : @eruick047

yo there intro is the same as the original minecraft trailer
Comment from : @reedtriesstuff

Opportunity cost and PPC are same?
Comment from : @assamteabyvinay

this video has the same music as the Minecraft trailer
Comment from : @0scillator

What is monetary cost?
Comment from : @luckedout2131

"Because our time is valuable, any decision we make has a cost"
Comment from : @rutusayswhat

University shrunk down into a 3 minute video
Comment from : @jossixoh

Welcome to another episode of I learnt more from this than from my Uni 🤣
Comment from : @vinayak186f3

I always struggle to understand the practical, real world application of just collecting the fish and bananas
Comment from : @katilynbell5875

Oi K hrethiamlo nasa ltk😑
Comment from : @opalixh398

Victorix you are noob
Comment from : @amitagarwalla8205

Because our time is valuable, any decision we make has a cost
Comment from : @josephrabah4966

Thank you It helps me a lot better
Comment from : @xoofilm

the intro song is minecraft trailer song
Comment from : @awful_cat

Thank you for explaining it
Comment from : @am_tawana_09

LOL
Comment from : @SAOP196

Like it
Comment from : @yutorieasmith689

it was good
Comment from : @hassanhashimi9250

i just searched how to write "opportunity" in right way
Comment from : @yal2983

FOR THE ALGORYTHM
Comment from : @carltonblend

Ann looks like a GHOST 👻
Comment from : @sanskritikushwaha647

Super explanation
Comment from : @madhuvanthisubramanian5957

Tell me how this 3 minute video explained this to me when half a semester in my econ class couldnt :/
Comment from : @sberry-milk

I want to hug the person/people who made this video
Comment from : @danielluzzio5111

Don’t get it
Comment from : @walter1554

Am I the only one who is doing this because a girl (brother zoned me) has asked me to write a long ass essay on opportunity cost, and I have no idea what it is
Comment from : @mcuriesium7347