Question

an unemployed person Ramesh is looking out for a job Ramesh received 2 job offer one for 20000 from icici bank and other 15000 from HDFC Bank what is opportunity cost for Ramesh if he accept offer of icici bank

Answer 1

The opportunity cost of accepting job in HDFC Bank is Rs. 15,000 as opportunity cost is the cost of the next best alternative forgone.