If there are several other things you could have done, is the opportunity cost the sum of
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If there are several other things you could have done, is the opportunity cost the sum of all of them?
Opportunity CostOpportunity cost is the profit lost when one alternative is selected over another. The Opportunity Cost refers to the expected returns from the second best alternative use of resources that are foregone due to the scarcity of resources such as land,...
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No It is the sacrifice of the best alternative ...View the full answer
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