Question: 1. Explain the term opportunity cost . Select two decisions, one from your personal life and one a common decision that manufacturers face, and provide

1. Explain the term opportunity cost. Select two decisions, one from your personal life and one a common decision that manufacturers face, and provide specific examples of relevant opportunity costs.

2. In a decision about whether to accept or reject a special order, explain why it is important to know whether this a one-off decision.

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