Instructions for this assignment The following assignment is worth 3 points and can be submitted as word or pdf file. You will be uploading this file Your file name should be lastnamefirstname oppcost O/C ASSIGNMENT Calculate the Opportunity Cost (O/C) of completing ECON1 successfully for SPRING 2021? Everything needs to be expressed in $ amounts. (You cannot add $ to the number of hours, hours need to be converted into $) This Opportunity cost (O/C) FOR ECON 1 should include the obvious cost (E. g. Book, Tuition, etc) and hidden cost (value of your time: how many hours per week * 12 weeks: What you will be doing and what it will be worth to you. E. g. Hidden cost is the O/C of time: what kind of uses of your time, e. g. let's say you spend 100 hours (In 12 weeks) to finish the Econ 1 class successfully. What else could you have done in these 100 hours and how much was that worth to you in $. E. g work for 100 hours , so you multiply with the wage rate. OR It could be 20 hrs of work, 20 hours of sleep, 20 hrs spent with your family and so on. How much is each hour worth, e. g. time spent with family $100 per hour. So 20 * $100 = $2000 and so on.