Answer to Question #132803 in Microeconomics for Adnan shaikh

Question

you graduate from collage and are offered three jobs (jobA, jobB, jobC). assume that they are identical in all respects (duties, benefits, promotion, prospects and so on ) expect that the salaries differ as shown below
jobA $150,000
jobB $120,000
jobC $ 100,000
first which of three jobs would you choose? no you can not have all three because you have made a choice you have incurred an opportunity cost what is the opportunity cost of your job choice? comparing benefits and costs have you made a rational choice?

Answer 1

I would choose job A which has a higher salary compared to others.

The opportunity cost of choosing job A in respect to job B and job C would be negative $30 and negative $50 respectively in terms of salaries since all other benefits are same. Considering this decision, a rational choice is achieved since job A will accrue more economic impact than job B and job C.