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Josue Logan
Law
25 June, 00:58
What is the definition of opportunity cost?
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Jaelynn Johnston
25 June, 01:13
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the loss of potential gain from other alternatives when one alternative is chosen.
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Ethan Rush
25 June, 01:23
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Opportunity cost is a key concept in economics, and has been described as expressing "the basic relationship between scarcity and choice" In other words, opportunity cost is the cost of the next best alternative of a product or service.
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