Q: Suppose an agricultural labourer earns ₹400 per day in her village. She gets a job to work as babysitter in a nearby town @ ₹700 per day. She chose to work as agricultural labourer. Which one of the following is the opportunity cost of the agricultural labourer?
(a)₹1,100
(b)₹700
(c)₹400
(d)₹300
Correct Answer: (a)
Detailed explanation coming soon.