Describe the nature of an opportunity cost

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20-01-2017
Business

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Describe the nature of an opportunity cost

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MissPhiladelphia MissPhiladelphia · Answer 1 · 2017-02-01T15:38:01+01:00

MissPhiladelphia MissPhiladelphia

01-02-2017

Opportunity cost is the cost of the next best alternative (money, time or resources) that we didn't choose in the trade-off. It represents an alternative given up when a decision is made. Hope this answers the question. Have a nice day.

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