A doctor has private clinic in new delhi and his annual salary is Rs. 10 lakh. If he works in a govt hospital in new delhi his earning is Rs. 8 lakh. What is the opportunity cost of having a clinic in new delhi ?? Please friends help me it's urgent please.
In the given case, the next best offer for the doctor is that of Rs.8 lakhs from a government clinic. So, the opportunity cost of the doctor for working in a government clinic is Rs.8 lakhs.