In his book "Naked Economics," Charles Wheelan discusses the falling birth rate in industrialized countries like Japan and the United States. He writes that the main cost of child-rearing today is the cost of foregone earnings when a parent stops or cuts back working in order to raise a child. The earnings that parents forgo to raise children are an example of:

a. opportunity cost

b. marginal cost

c. explicit cost

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Required solution Answeran opportunity ... View the full answer