Cryptocurrency Q&A
Which of these best describes an opportunity cost?
Which of these best describes an opportunity cost?
Sat Jan 11 2025
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7 answers
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I'm trying to understand the concept of opportunity cost. I want to know which statement best defines it.
7 answers
Mon Jan 13 2025
Opportunity cost is a concept used to describe a specific financial scenario.
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Mon Jan 13 2025
It arises when an individual or organization makes a choice between multiple alternatives.
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Mon Jan 13 2025
Each alternative has its own associated value or benefit.
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Mon Jan 13 2025
The opportunity cost is determined by identifying the next best alternative that is forgone.
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Sun Jan 12 2025
This involves calculating the difference in value between the chosen alternative and the forgone one.
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