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2 December, 01:19

Opportunity cost is __

Identify the opportunity cost in each of the following examples. Select the answer that best completes the sentence.

OA.

the value of the alternative a person did not select

B. the fact that one must spend money in order to get what they want

O

c.

the value of one thing is always greater than the value of another

OD. no answer is correct.

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Answers (1)
  1. 2 December, 01:37
    0
    Answer: A.

    Explanation:

    By definition, opportunity cost is the amount or value of something you gave up for another good.

    For example: say you value sleeping in at $5 value going to class at $4. You decide to get up and go to class, the $4 value. Therefore, your opportunity cost is what you gave up (sleeping in) for another good/choice (going to class), is $5 since you valued sleeping in at that.
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