Answer to Question #350976 in Microeconomics for Tandi

Question #350976

Explain the term ‘opportunity cost’. 



1
Expert's answer
2022-06-15T17:23:29-0400

Opportunity costs represent the potential benefits that an individual, investor, or business misses out on when choosing one alternative over another. Because opportunity costs are unseen by definition, they can be easily overlooked.


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