المدخل الفعلي
- Class notes
- [Lecture 4, slide 3] Opportunity cost = value of next best alternative forgone. Not all monetary costs are opportunity costs; non-monetary alternatives can count. [slide 5] Sunk cost: already incurred and cannot be recovered; should not affect marginal choice. Lecturer example: paid £30 non-refundable ticket, then feels ill; decision is based on benefits/costs of attending now, not £30. [slide 7] Marginal analysis compares additional benefit and additional cost of one more unit. Note says MB > MC continue; MB = MC optimum? Lecturer said assumptions matter but I missed them. [Tutorial Q2] Student chose cheaper train because ticket price lower; feedback: ignored two hours of lost paid work. [My note] Is sunk cost always opportunity cost? uncertain.
- Course and assessment context
- Introductory economics, first-year. Learning outcome: apply opportunity cost, sunk cost, and marginal reasoning to short scenarios. Closed-book exam in five weeks with multiple choice plus short explanations. Only lecture slides/tutorial sheets are permitted study sources for this task.
- Study preferences
- Concise Markdown. Keep exact course terminology. I confuse sunk and opportunity cost. I have 40 minutes for this review session.







