기회비용과 합리적 선택 = Opportunity Cost and Rational Choice

다국어 초록 (Multilingual Abstract)

This paper considers that misconception about opportunity cost and rational choice leads to wrong definition that opportunity cost is the cost of any activity measured in terms of the best alternative forgone and that rational choice is the choice of alternative with the lowest opportunity cost. Instead, this paper shows that opportunity cost is the sum of explicit marginal cost and the largest net benefit foregone. This paper contributes to the existing literature by showing that it is generally true that a choice is rational as long as benefit exceeds cost.