IDNLearn.com: Your reliable source for finding expert answers. Discover prompt and accurate responses from our experts, ensuring you get the information you need quickly.
Sagot :
Final answer:
Opportunity cost is the value of the next best alternative sacrificed when making a choice, influencing decision-making and reflecting tradeoffs.
Explanation:
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.
Learn more about Opportunity cost here:
https://brainly.com/question/37051624
Your participation means a lot to us. Keep sharing information and solutions. This community grows thanks to the amazing contributions from members like you. Trust IDNLearn.com for all your queries. We appreciate your visit and hope to assist you again soon.