Describe opportunity cost, and then explain whether or not it’s an out-of-pocket cost

Directions: For this forum, create a thread to respond substantively to each question or directive that makes up the discussion forum.  This thread will serve as your primary post.  Be sure to label your responses to coincide with each section in the forum to add clarity and distinct insights for each response.

Your primary post word range (for all sections combined; not each one separately) is between 150 and 350 words maximum.  You can write approximately 10% below the 150 word minimum or approximately 10% above the 350 word maximum, but anything outside the 10% leeway will bring about automatic point deductions depending on how far outside the range your primary post is.

In addition to your primary post, you must also respond substantively and directly on point to at least 2 of your fellow classmates’ primary posts in order to further enhance the discussion and fulfill the assignment requirements.  Do not repeat material from your primary post, and do not engage in chit-chatting or provide material that does not provide more insights into the discussion topics. Also be sure to write different things to different students.

NB: Your primary post accounts for approximately 80 to 85% of your score, while the follow-up posts make up approximately 15 to 20%.

Discussion: Answer each section below in separate paragraphs.

  1. Describe opportunity cost, and then explain whether or not it’s an out-of-pocket cost.
  2. If you were offered a job that required you to completely stop attending college (onsite or online), explain how would you apply the concept of opportunity cost to help you decide whether or not to take the job or continue your college education?  In your explanation, be sure to include all of the factors you can think of that would go into your decision.
  3. 1.  Set forth the law of diminishing marginal utility.

C.  2. Are there any exceptions to this law?  Explain why or why not.

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