Prior to beginning work on this discussion forum, review Chapter 1, Economics, Economic Methods, and Economic Policy in your textbook, Principles of Microeconomics and the materials on the "Weekly Lecture" page. With salary and endorsements, LeBron James makes over $100 million a year. Suppose that LeBron is contemplating whether he should mow his own lawn and he is asking you to provide him with sound economic advice about whether he should spend 3 hours of his time mowing his lawn. Based on this scenario,

Define opportunity cost . Calculate the opportunity cost if he decides to spend 3 hours of his time mowing his own lawn. Discuss if he should mow his own lawn or hire someone to do it based on his opportunity cost and total economic cost of mowing the lawn. Give reasons. [Hint: total economic cost = opportunity cost + direct cost] Discuss if your answer will be the same if the person in question was you instead of LeBron James. Give reasons for your answer.

Principles of Microeconomics - Ch 1: Economics, Economic Methods, and Economic Policy (uagc.edu)

Week 1 - Weekly Lecture: ECO204: Principles of Microeconomics (BAK2336A) (instructure.com)