Get detailed and accurate responses to your questions on IDNLearn.com. Our platform offers reliable and comprehensive answers to help you make informed decisions quickly and easily.
Opportunity cost is the value of the next best alternative sacrificed when making a choice, influencing decision-making and reflecting tradeoffs.
Opportunity cost is the value of the next best alternative that must be sacrificed when making a choice. It represents what one gives up to obtain something desired, reflecting tradeoffs individuals face in decision-making. For example, if Alphonso chooses a burger, the opportunity cost would be the four bus tickets he would have to forgo.
https://brainly.com/question/37051624