It is common to encourage people to use opportunity cost as a criterion for public decision making.
However, for the unwary, there are hidden dangers in doing so.
The concept of opportunity cost may be DIFFERENT at the individual level and at the collective level, I think.
There are ambiguities in the concept of opportunity cost.
In the attached file, I explain my concerns in more detail.
Please give comments on the example in the attached note. What is the opportunity cost in the example?
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