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10 April, 10:17

What represents the value of the second-best alternative that a person gives up when making a choice?

A. marginal spending

B. marginal benefit

C. opportunity cost

D. marginal cost

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  1. 10 April, 10:37
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    Opportunity cost is what represents the value of the second-best alternative that a person gives up when making a choice. When someone has to decide between two or more alternatives to a decision, what has been given up is known as the opportunity cost.
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