1. Opportunity Cost

2. Unlimited Wants Limited Resources Scarcity Choice Choose to satisfy some wants = Give up some wants Opportunity cost

3. Opportunity cost is… The value of the highest valued options forgone

4. Let me find a girlfriend Pretty UglySilver

5. Oh……pretty girl~

6. My O.C. of choosing Pretty is… The value of Ugly Pretty UglySilver

7. Why the opportunity cost is not the value of Ugly and Silver? Pretty UglySilver

8. If you want to have two girlfriends at the same time, I will say a song all the time. Are you OK?

9. Please....Stop!!! I swear I won’t have two girlfriends at the same time. So the opportunity cost of choosing pretty as a girlfriend is the value of ugly.

11. Hi! Am I pretty ？

12. My O.C. of choosing Pretty is… My O.C. of choosing Pretty is the value of Silver 18 分 Pretty UglySilver

14. If I only have one choice. My O.C. of choosing pretty is… No choice, No O.C. Pretty UglySilver

17. Will this affect my opportunity cost of choosing pretty as girlfriend? 15分 Pretty UglySilver

18. My O.C. of choosing pretty is……. The value of ugly 15分 Pretty Ugly Silver

19. Though I am ugly, I am a good wife.

20. 12分 Pretty UglySilver Will this affect my opportunity cost of choosing pretty as girlfriend? The value of Ugly increase, so the o.c. of choosing pretty will increase.

21. Exercise 1 st Choice: Revision 2 nd Choice: Sleeping 3 rd Choice: Doing Sport

22. Q.1 The highest valued option is… 1 st Choice: Revision 2 nd Choice: Sleeping 3 rd Choice: Doing Sport

23. Q.2 What options are forgone… 1 st Choice: Revision 2 nd Choice: Sleeping 3 rd Choice: Doing Sport

24. Q.3 Which is the highest valued option forgone? 1 st Choice: Revision 2 nd Choice: Sleeping 3 rd Choice: Doing Sport

25. Q.4 The opportunity cost of revision is… 1 st Choice: Revision 2 nd Choice: Sleeping 3 rd Choice: Doing Sport

26. Q.5 The O.C. of Sleeping is… 1 st Choice: Revision 2 nd Choice: Sleeping 3 rd Choice: Doing Sport

27. Q.6 The O.C. of doing sport is… 1 st Choice: Revision 2 nd Choice: Sleeping 3 rd Choice: Doing Sport

28. Q.7 If mum order Mary to sleep, what is the O.C. of sleeping? 1 st Choice: Revision 2 nd Choice: Sleeping 3 rd Choice: Doing Sport None, because Mary has no choice, so she has no O.C.

29. The O.C. of watching Harry Porter is… The value of Cars 2

30. The O.C. of watching Cars 2 is… The value of Harry Porter

31. The O.C. of watching Kung Fu Panda is… The value of Harry Porter

32. In what situation, there is no O.C. of watching Harry Porter? When the other movies cannot be watched

33. Will O.C. change? When the value of the highest valued option forgone changes, the O.C. changes. O.C. = the value of highest value option forgone (2 nd option’s value)

34. Exercise My O.C. of surfing the net is… The value of playing basketball.

35. Exercise EventChange of O.C. 1. Sally’s best friend will play basketball with her 2. There are some problems in the Network 3. There is good desert when Singing Karaoke