Opportunity Cost 2 s07 - University of British Columbia

Opportunity Costs and the Decision to Fish for Northern Anchovy ... The concept of opportunity cost reflects the reality that limited time and resources allow peo- ple to pursue economic opportunities only at the “cost” of forgoing alternatives (Ferris and Plourde 1982; Charles 1988). For boat owners, the oppor- tunity cost of fishing is the income that they could expect to earn in an ... ................
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