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  • 17-11-2020
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What is Opportunity cost and provide an example (own words)

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al12181
al12181 al12181
  • 17-11-2020

Answer:

Opportunity cost is the comparison of one economic choice to the next best choice. Or the choice not been made.

EX:

You choose Coke over Fanta. The opportunity cost is the Fanta because you didn't choose it

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