what is opportunity cost?

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what is opportunity cost?

2006-07-04 05:04:33 · 3 answers · asked by himanshu 1 in Business & Finance ➔ Other - Business & Finance

3 answers

The income or profit you give up on something else you could have bought or done instead, with the money you spend on what you actually do, is called opportunity cost.

2006-07-04 05:15:05 · answer #1 · answered by Judy 7 · 0⤊ 0⤋

The cost of something you could choose to buy instead...i think...You'd think I'd know better since I just took eco...oh well.

2006-07-04 05:07:50 · answer #2 · answered by Most Excellent Mutant 2 · 0⤊ 0⤋

the cost of the BEST alternative.

2006-07-04 05:10:03 · answer #3 · answered by Anonymous · 0⤊ 0⤋