You are tasked with doing an oppourtunity cost report below Please do an introduction and conclusion PROVIDE 3 academic sources in APA7 format Oppourtunity Cost Report Opportunity cost of a particular activity refers to the loss of profit that will be incurred when a particular activity is selected over another activity For example, if a person prefers to study rather than work, then the salary offered to that person represents opportunity cost of studying further If salary is $10,000, then $10,000 represents opportunity cost of choosing to study rather than working Opportunity Cost Table Row Activities Costs Monetary Cost (in dollars) Opportunity Cost of Paving the Parking Lot (forgone opportunities) 1 Example Pave Parking Lot $250,000 Installing solar panels to generate electricity for workplace 2 Buying Top of the line Computers and Laptops $300,000 Fixing the workplace ventilation system and installing new ACs 3 Refurbishing and renovating the office space $200,000 Constructing a new building 4 Advertising and marketing activities for current products $150,000 Researching or developing a new product Activity Going for a weekend party rather than working on Sunday (where company has given an option) Monetary Cost Cost of meals outside, commutation cost Monetary cost or accounting cost refers to the direct cost involved in a decision where money changes hands from one person to another person For instance, in the case of production, when the production process is involved, then wages paid to workers, rate of interest paid on money borrowed etc, refers to the direct cost of production and thus is considered as monetary cost On the other hand, opportunity cost does not involve any exchange of hands because it is foregone cost when one alternative is selected over another alternative Thus, loss of benefit associated with one opportunity is referred to as opportunity cost For instance, the rate of interest that one earn earn on money deposited in a bank account rather than using that money to start a business is referred to as opportunity cost

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You are tasked with doing an oppourtunity cost report below. Please do an introduction and conclusion. PROVIDE 3 academic sources in APA7 format. Oppourtunity Cost

You are tasked with doing an oppourtunity cost report below. Please do an introduction and conclusion. PROVIDE 3 academic sources in APA7 format.

Oppourtunity Cost Report

Opportunity cost of a particular activity refers to the loss of profit that will be incurred when a particular activity is selected over another activity. For example, if a person prefers to study rather than work, then the salary offered to that person represents opportunity cost of studying further. If salary is $10,000, then $10,000 represents opportunity cost of choosing to study rather than working.

Opportunity Cost Table

Row #	Activities/Costs	Monetary Cost (in dollars)	Opportunity Cost of Paving the Parking Lot (forgone opportunities)
1	Example: Pave Parking Lot	$250,000	Installing solar panels to generate electricity for workplace.
2	Buying Top-of-the-line Computers and Laptops	$300,000	Fixing the workplace ventilation system and installing new ACs
3	Refurbishing and renovating the office space	$200,000	Constructing a new building
4	Advertising and marketing activities for current products	$150,000	Researching or developing a new product

Activity - Going for a weekend party rather than working on Sunday (where company has given an option)

Monetary Cost - Cost of meals outside, commutation cost

Monetary cost or accounting cost refers to the direct cost involved in a decision where money changes hands from one person to another person. For instance, in the case of production, when the production process is involved, then wages paid to workers, rate of interest paid on money borrowed etc, refers to the direct cost of production and thus is considered as monetary cost. On the other hand, opportunity cost does not involve any exchange of hands because it is foregone cost when one alternative is selected over another alternative. Thus, loss of benefit associated with one opportunity is referred to as opportunity cost. For instance, the rate of interest that one earn earn on money deposited in a bank account rather than using that money to start a business is referred to as opportunity cost.