Which of the sentences below best expresses
the essential information in the phrase “Opportunity
cost”?
Opportunity Cost
This phenomenon goes by the name of ‘opportunity
cost,’ since by not investing in more equipment and
a more rigid production flow, the company is forgoing the opportunity to earn increased profits. These
costs are every bite as real as the payment of dollars
out-of-pocket.
This notion _______ opportunity cost can be reinforced _________ a famous saying ______ Benjamin
Franklin, no slouch himself _________ operations
management. To make the point, however, we must
make a brief excursion into logic. One truth of logic is
the validity of the so-called contrapositive, which says
simply that if the statement “If A, then B” is true, then
it is also true that “If not B, then not A.” That is, of every
time A occurs B follows, then we can be sure that if B
does not occur, then A did not occur as well. Enough
logic then, and back to Ben Franklin.
One of his Poor Richard sayings is that “A penny saved
is a penny earned.” We have all recognized the truth of
that since childhood, but I assert that by this saying
Ben showed us he knows everything about opportunity cost. After all, what is the contrapositive of “A
penny not earned is a penny not saved (i.e., a penny
sent). All we are saying by this notion of opportunity
cost is that “a penny not earned (an opportunity forgone) is a penny spent.” We shall often have occasion
to consider opportunity costs, in analyzing and deciding various operations issues.
SCHMENNER, Roger W. Production/Operations Management. 5th
Edition. Prentice-Hall, 1993.
Opportunity Cost
This phenomenon goes by the name of ‘opportunity cost,’ since by not investing in more equipment and a more rigid production flow, the company is forgoing the opportunity to earn increased profits. These costs are every bite as real as the payment of dollars out-of-pocket.
This notion _______ opportunity cost can be reinforced _________ a famous saying ______ Benjamin Franklin, no slouch himself _________ operations management. To make the point, however, we must make a brief excursion into logic. One truth of logic is the validity of the so-called contrapositive, which says simply that if the statement “If A, then B” is true, then it is also true that “If not B, then not A.” That is, of every time A occurs B follows, then we can be sure that if B does not occur, then A did not occur as well. Enough logic then, and back to Ben Franklin.
One of his Poor Richard sayings is that “A penny saved is a penny earned.” We have all recognized the truth of that since childhood, but I assert that by this saying Ben showed us he knows everything about opportunity cost. After all, what is the contrapositive of “A penny not earned is a penny not saved (i.e., a penny sent). All we are saying by this notion of opportunity cost is that “a penny not earned (an opportunity forgone) is a penny spent.” We shall often have occasion to consider opportunity costs, in analyzing and deciding various operations issues.
SCHMENNER, Roger W. Production/Operations Management. 5th
Edition. Prentice-Hall, 1993.
Gabarito comentado
Resposta correta: D
Tema central: Opportunity cost é um conceito básico de economia e tomada de decisão: representa o valor do benefício renunciado ao escolher uma alternativa em vez da outra. Compreender essa ideia ajuda a avaliar custos não observáveis em dinheiro, mas reais em consequências (Schmenner; também tratado em manuais como Mankiw, Principles of Economics).
Resumo teórico (claro e progressivo): - Definição-chave: opportunity cost = valor do próximo melhor uso alternativas que foi abandonado ao tomar uma decisão. - Enfatize "benefício que poderia ter sido recebido", não algo já recebido. - Uso prático: ao optar por A, pergunte “o que estou deixando de ganhar com B?”
Justificativa da alternativa D: A alternativa D diz que é “um benefício que uma pessoa poderia ter recebido, mas deu up, para tomar outra ação.” Isso corresponde exatamente à definição: valor do benefício perdido ao escolher a opção tomada. Portanto é a opção correta.
Análise das alternativas incorretas: - A (errada): fala em “lucros que uma pessoa recebeu, mas deu up” — confunde tempo/verbo. Opportunity cost refere-se ao benefício não recebido (foregone), não a lucros já auferidos. - B (errada): “represents an alternative that has not given up” — contraditório e impreciso; o custo de oportunidade refere-se ao que foi renunciado, não a algo que “não foi dado up”. - C (errada): “diferença entre um investimento escolhido e um que não é passado up” — usa “diferença” e linguagem confusa; não capta que é o valor do benefício do próximo melhor uso, não uma diferença matemática vagamente definida. - E (parcialmente correta, mas incompleta): “uma das alternativas que foi dada up” — está perto, mas falta explicitar que o custo é o benefício perdido associado a essa alternativa, não apenas a alternativa em si.
Estratégias para exames: Procure palavras-chave: "benefit foregone", "next best alternative", "could have received". Desconfie de alternativas que mudam tempo verbal (received vs could have received), usam termos vagos (difference) ou omitem o foco no benefício perdido.
Fonte sugerida: Mankiw, N. G. Principles of Economics; artigo conceitual sobre opportunity cost em Investopedia.
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