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  • 18-11-2020
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What is Opportunity cost and provide an example (own words)

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awesomesophia5
awesomesophia5 awesomesophia5
  • 18-11-2020

Answer:

Opportunity cost is the value of the next best thing you give up whenever you make a decision. It is "the loss of potential gain from other alternatives when one alternative is chosen". ... For example, opportunity cost is how much leisure time we give up to work.

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