Opportunity cost is an economic term that means the highest valued alternative foregone to pursue an activity.
It’s like if you worked at a bakery baking cakes and pies. Your shift is five hours long. In one hour, you’re able to bake one cake or two pies. If you spent zero hours on cakes and five hours on pies, you would have zero cakes and 10 pies at the end of your shift. If you spent one hour baking cakes and four hours baking pies, you would have one cake and eight pies—and so on and so forth. For every hour you spend making cakes, your opportunity cost is two pies.
I applaud you for making it past this introduction. Thanks for bearing with my baking analogy. The reason I bring up opportunity cost is because there are many things it can be applied to—like the Mets’ bullpen for example.
This offseason, the Mets have focused on tweaking their ever-underachieving bullpen. Jon Rauch will take his 3-7 record and 50-percent save-rate talents to South Beach. Ramon Ramirez will jet back...