1.5 Cost-Benefit Analysis 🧐

🎯 Learning Targets

• Define opportunity cost
• Explain the opportunity costs associated with choices
• Calculate the opportunity costs associated with choices
• Explain a decision by comparing total benefits and total costs
• Calculate total benefits and total costs

⏰ What We Did

• Defined cost-benefit analysis and the role of rational agents in calculating opportunity costs
• Compared total benefit with total cost and how they relate to marginal benefit and marginal costs

⚙️ Resources

• 1.5 Cost-Benefit Analysis

📖 Corresponding Reading

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💻 Homework

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