Is it correct to say that the opportunity cost is a particular point on the supply curve? And if so, why?
I understand what is going on with the opportunity cost with the production possibilities curve (how you give up more of one good when producing another), but I'm just not sure how it relates to the supply and demand curve, and area underneath the supply curve.
On this video, (https://www.youtube.com/watch?v=zEE-qOuo_Cw), at 3:15, he says that there is an opportunity cost more than $9. Why is this referred to as opportunity cost?