What is the opportunity cost of an episode of Friends?

You have two pieces of video content you can consume. 

The first is a 20 minute episode of Friends. 

You enjoy friends. It’s easy to watch. Could I BE laughing any harder? 

After 20 minutes, you would have gained much enjoyment, but that enjoyment will disappear 5 minutes later. You would be in the exact same position you were in 25 minutes ago. 

The second is a group of 3 modules on the basics of economics. It teaches you about how income flows between households and firms in the sale of a pizza, opportunity cost as the choice between guns and butter, and how consumption of public goods are non-rivalrous and how mandatory taxation overrides the free rider problem. 

thinking about opportunity cost of watching Friends

This post is what you can do with the second option. You can now analyse the opportunity cost of my time, communicate it concretely, and make clearer decisions as to what I want to do. You are better off, and now that 25 minutes has set you up for success in evaluating options and making decisions.

For example, should you invest in a vpn to enjoy UK Netflix shows or should I buy get the Business Economics Specialist Certification? Should your sales team spend an hour making calls or an hour in coaching? If the second, should you coach them in a group or 1 on 1?

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