Difference between revisions of "Opportunity cost"
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Revision as of 11:51, 21 March 2012
Opportunity cost
Opportunity cost is the cost of any activity measured in terms of the value of the next best alternative foregone (that is not chosen). It is the sacrifice related to the second best choice available to someone, or group, who has picked among several mutually exclusive choices[1]
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Footnotes and references
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