Mastering Opportunity Cost: Economics Practice Problems for Econ Students | Think Econ

#opportunitycost #microeconomics #macroeconomics
In this video we look at an opportunity cost question which you may encounter in your intro macroeconomics or intro microeconomics courses. We give a step-by-step solution on how to solve this type of question so that you can ace your assignment or unit test!

[@ThinkEcon]

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[@GiftMumba-de1ug]

I'm finding it a bit hard to understand why u had to divide both sides by 4 ....
My understanding is limited and I'm not satisfied...
Could u please explain again on why you had to divide both sides by 4

[@GiftMumba-de1ug]

Did u decide to divide both sides by 4 so as to get 1 dozen cookies on the left side ?

[@ThinkEcon]

@GiftMumba-de1ug Of course! Allow me to clarify for you! I divide both sides by 4 because I am interested in 1 dozen units instead if 4 dozen. How do I turn 4 into 1? I divide it by 4. But what I do to one side, I must do to both sides, as if they were separated by an equals sign.
Does this help? If not I can explain further!

[@GiftMumba-de1ug]

​@@ThinkEconwow , I was also doing some working out and I now understand why ....
Your clarification explanation really worked 💯😀... Thank you so very much....

[@ThinkEcon]

Glad to hear it! @@GiftMumba-de1ug

[@owenthomas3621]

Love the pro tip at the end ❤

[@ThinkEcon]

Gotta keep it real for the econ students!

[@sof185]

👍🏼👍🏼

[@amosjaed2855]

Thanks this was so helpful and well explained

[@ThinkEcon]

Glad to hear it!

[@dananjayachathuranga7113]

thank u sir

[@ThinkEcon]

You’re welcome!