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7 June, 19:52

Isaac has four potential jobs to consider, each with different salary offers. From highest to lowest, the salaries are: $47,500, $46,000, $45,000, and $42,000. Based on the information provided, if Isaac accepts the highest-paying position, what is his opportunity cost of this position?

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  1. 7 June, 19:59
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    opportunity cost of this position is $46000

    Explanation:

    we know here there are 4 salary they are

    $47,500, $46,000, $45,000 and $42,000

    there are highest salary is $47500

    and lowest salary is $42000

    and if he is not choose this job

    so then his next best alternative salary will be paying for job is $46000

    so here we can at that Isaac's opportunity cost by choosing job with salary this $47500 is $46000

    opportunity cost of this position is $46000
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