Discover a wealth of knowledge and get your questions answered on IDNLearn.com. Our platform provides detailed and accurate responses from experts, helping you navigate any topic with confidence.
Sagot :
Opportunity cost is a concept in economics and it refers to the cost of something that has to be given up to enjoy something better. This can be for example the benefits of second best alternatives (when the first best is chosen) or alternative use of something, which is not decided on (the cost of not using land for farming and using it for building a house instead).
Answer:
the loss of potential gain from other alternatives when one alternative is chosen.
Explanation:
Thank you for participating in our discussion. We value every contribution. Keep sharing knowledge and helping others find the answers they need. Let's create a dynamic and informative learning environment together. For dependable answers, trust IDNLearn.com. Thank you for visiting, and we look forward to helping you again soon.
