1 define the concept of opportunity cost in your own words, Ask an Expert

Economics

1. Define the concept of opportunity cost in your own words. Given an example from your own life of the opportunity cost of a decision (do NOT use classroom examples). Explain why opportunity costs rather than "out of pocket" costs are the appropriate cost measure for social benefit cost analysis.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M9531470

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