OR It could be 20 hrs of work, 20 hours of sleep, 20 hrs spent with your family and so on. How much is each hour worth, e.g. time spent with family $100 per hour.So 20 * $100 = $2000 and so on.

Calculate the Opportunity Cost (OIC) of completing ECON1 successfully for SPRING 2021? Everything needs to be expressed in $ amounts. (You cannot add $ to the number of hours, hours need to be converted into $) This Opportunity cost (OIC) FOR ECON 1 should include the 1. obvious cost (E.g. Book, Tuition, etc) and 2. hidden cost (value of your time: how many hours per week * 12 weeks: What you will be doing and what it will be worth to you. E.g. Hidden cost is the OIC of time: what kind of uses of your time, e.g. let's say you spend 100 hours (In 12 weeks) to finish the Econ 1 class successfully. What else could you have done in these 100 hours and how much was that worth to you in $. E.g work for 100 hours , so you multiply with the wage rate. OR It could be 20 hrs of work, 20 hours of sleep, 20 hrs spent with your family and so on. How much is