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    Question

    What is the concept of opportunity cost?

    a few seconds ago 3 Answers

    Best Answer

    Opportunity cost is a life concept that determines the real cost of a decision, project or an item in relation to another. It identifies the cost of an item, for example, to be equal to the value of the other item that you have to forego in order to have the first item. In simple explanatory term, if you could have either coke or pepsi, the real cost of having a pepsi is the coke you have to do without.
    a few seconds ago

    Other Answers

    • I hear the term lately used to describe the up-front cost to some MLM business scheme.

      by Jake - a day ago

    • is there a reason you can't google that? or look in your text book?

      by Caren - a day ago

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