Answer to Question #203491 in Microeconomics for Thembalethu

Question #203491

Opportunity cost is best defined as?


1
Expert's answer
2021-06-07T11:28:19-0400

Solution:

Opportunity cost refers to the foregone benefit that could have been derived by an option not selected. It can also be defined as the loss of a possible gain from other options when one alternative is selected.


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