Answer to Question #70167 in Other Economics for Hailey

Question #70167
Mr chan and Mr lee are secondary school teachers. They earn the same salary of $30000 a month. (a) Explain whether Mr Chan 's and Mr Lee's opportunity cost of being a teacher would definitely be the same. (b) Explain whether the opportunity cost of quitting their jobs as teachers would definitely be the same.
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Expert's answer
2017-09-20T13:32:07-0400
(a) Mr Chan 's and Mr Lee's opportunity cost of being a teacher wouldn't definitely be the same, if they have different opportunities except being a teacher.
(b) The opportunity cost of quitting their jobs as teachers would definitely be the same, because they both earn the same salary, which is their opportunity cost.

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