Qs1:

a,- The opportunity cost of attending the next economics class meeting is the value of the
next best alternative (Ex : Go to the movie in 1 hour or make money at work within 1 hour)

b,The opportunity cost of skipping class is the value of attending the class ( Ex: Get more
knowledge, get many good grades like bonus point, conscious point,.. and some grades
related to the subject.)

c,- Even though the expenses are paid, there is still an opportunity cost, the next best
alternative on that week ( Ex: knowledge is lost because of skipping classes or the money lost
by go to work )

Qs2
Case1:Singapo
Malaysia
Case2: America
England
Case3: Coal
Whoat
Qs3:
- They choose straight 10% wage for 39 hours, each week they have
120$+ (120$+10%) = 132 => each hour is 3.38$
-They accept 125$ for a week with 37 hours => each hour is 3.37$
Therefore $132 for a 39-hour week is the opportunity cost to each worker of opting for the 37
– hour week.
=> Option 1 will earn more money than Option 2.
-The opportunity cost to each worker of opting for the 37 – hour week are decrease of week
wage 132$ to 125$ and decrease their salary per hour from 3,38$ to 3,37$.