Home
Class 11
ECONOMICS
An unemployed person, Ramesh is looking ...

An unemployed person, Ramesh is looking out for a job. Ramesh received 2 job offers: one for Rs. 20,000 from ICICI Bank and other offer Rs. 15,000 from HDFC Bank. What is the oportunity cost for Ramesh if he accepts the offer of ICICI Bank?

Text Solution

Verified by Experts

The correct Answer is:
Rs. 15,000
Promotional Banner

Topper's Solved these Questions

  • INTRODUCTION

    SANDEEP GARG|Exercise SHORY ANSWER TYPE QUESTION 3-4 MARKS EACH|27 Videos

  • ELASTICITY OF DEMAND

    SANDEEP GARG|Exercise Unsolved practicals|79 Videos

  • MAIN MARKET FORMS

    SANDEEP GARG|Exercise Very short|17 Videos

Similar Questions

Explore conceptually related problems

A sum of Rs 10000 was deposited in a bank that offer 20% annual compound interest. What will the amount be in the bank after 2 year?

A teacher has job from two school ABC offers a salary of Rs. 14,000 and school PQR offers a salary Rs. 18,000. If the teacher at present draws a salary of Rs. 20,000 in school MNO, what will be opportunity cost?

Knowledge Check

  • A company's Revenue from Operations are Rs. 20,00,000 , Cost of Revenue from Operations is Rs. 14,00,000 and indirect expenses are Rs. 2,00,000 . What is the amount of Gross Profit ?

    A
    Rs. 1800000
    B
    Rs. 400000
    C
    Rs. 800000
    D
    Rs. 600000

  • Ramesh is working at a salary of Rs. 35,000 per month. He receives two job offers: (i) To work as an accountant at a salary of Rs. 30,000 per month,(ii) To work as a sales manager at a salary of Rs.25,000 per month. In the given case, his opportunity cost will be:

    A
    Rs. 25,000
    B
    Rs.30,000
    C
    Rs. 35,000
    D
    Rs. 65,000

  • Question stimulus:- Ahmed asked for a personal loan from a bank for Rs. 1,00,000. Out of that, he had to pay Rs. 20,000 to his landlord, Rs. 3,000 to his partner, and with Rs. 35,000 he had to purchase a motorcycle. How much rupees will be left with Ahmed after all the expenditure?

    A
    Rs. 39,000
    B
    Rs. 42,000
    C
    Rs. 43,000
    D
    Rs. 44,000