Brooklyn College Concept of Opportunity Cost Paper

Don't use plagiarized sources. Get Your Custom Essay on
Brooklyn College Concept of Opportunity Cost Paper
Just from $13/Page
Order Essay

THIS ASSIGNMENT DESCRIBES YOUR OWN EXPERIENCE/OBSERVATION FROM REAL LIFE THAT IS BASED ON AN ECONOMIC CONCEPT COVERED IN CLASS: (500-800 words) (IF MORE THAN 1000 WORDS, YOU SHOULD HAVE A REALLY GOOD STORY)

FILE UPLOAD MUST HAVE YOUR FULL NAME: E.G. RAVJEETSINGH.pdf OR RAVJEETSINGH.docx

MOST IMPORTANT: THE FOLLOWING EXAMPLES ARE FOR GUIDANCE ONLY. YOU CANNOT USE THE SAME EXAMPLES BUT SIMILAR EXAMPLES FOR THE FOLLOWING CONCEPTS ARE OK. ONLY 1 STORY/EXAMPLE IS REQUIRED. IF YOU HAVE MORE THAN 1 STORY TO SHARE, YOU CAN PUT THEM ALL THERE AND I CAN LET YOU KNOW WHICH ONE YOU SHOULD EXPAND.

EXAMPLES: Use only 1 of the following concepts in your story. You can try to combine a few concepts in 1 story but not write multiple stories involving different concepts.

OPPORTUNITY COST: WHAT IS THE OPPORTUNITY COST OF any activity? (YOU CANNOT USE THE EXAMPLE OF OPPORTUNITY COST OF TAKING THE COURSE)

ELASTICITY AND TIME HORIZON: buying an expensive air ticket in an emergency situation compared to a longer period to plan a trip and more flexibility /response to price changes.

DIMINISHING MARGINAL UTILITY: DIAMOND PENDANT STORY.

SUNK COST: class examples about walking out/staying in to watch a boring movie for which you paid $10

STORY ABOUT A PERSONAL RELATIONSHIP OF BEING IN A RELATIONSHIP OR MOVING ON TREATING THE TIME ALREADY SPENT AS SUNK COST.

COMBINATION OF DIFFERENT CONCEPTS IN 1 STORY: E.g. : how my Willingness to pay for the BTS concert in NY City was high. I was prepared to pay $400 (MC). However combined with the expensive Airline ticket ($900), I had to consider my budget constraint. The short time horizon made the price inelastic. I was also frustrated about lack of competition in Airlines industry.

AT THIS POINT: MY BIGGEST REGRET IN LIFE 🙁

LEAST PREFERRED STORIES About how you go to the market and you find that any good is on sale and you buy more of it.

MOST LIKELY STORY (WHICH IS PERFECTLY FINE) IS where you compare the additional (marginal) cost versus the marginal benefit and then make a decision as to whether it is worthwhile doing that activity or not.

Calculate your paper price
Pages (550 words)
Approximate price: -

Why Work with Us

Top Quality and Well-Researched Papers

We always make sure that writers follow all your instructions precisely. You can choose your academic level: high school, college/university or professional, and we will assign a writer who has a respective degree.

Professional and Experienced Academic Writers

We have a team of professional writers with experience in academic and business writing. Many are native speakers and able to perform any task for which you need help.

Free Unlimited Revisions

If you think we missed something, send your order for a free revision. You have 10 days to submit the order for review after you have received the final document. You can do this yourself after logging into your personal account or by contacting our support.

Prompt Delivery and 100% Money-Back-Guarantee

All papers are always delivered on time. In case we need more time to master your paper, we may contact you regarding the deadline extension. In case you cannot provide us with more time, a 100% refund is guaranteed.

Original & Confidential

We use several writing tools checks to ensure that all documents you receive are free from plagiarism. Our editors carefully review all quotations in the text. We also promise maximum confidentiality in all of our services.

24/7 Customer Support

Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.

Try it now!

Calculate the price of your order

Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

No need to work on your paper at night. Sleep tight, we will cover your back. We offer all kinds of writing services.

Essays

Essay Writing Service

No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.

Admissions

Admission Essays & Business Writing Help

An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.

Reviews

Editing Support

Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.

Reviews

Revision Support

If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied with the service offered.