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Opportunity Cost

The value of the next-highest-valued alternative use of that resource. Example: If you spend time and money going to a movie, you cannot spend that time at home reading a book, and you cannot spend the money on something else.

What is Opportunity Cost?

Opportunity cost refers to the value a person could have received but passed up in pursuit of another option.

Opportunity Costs

A brief overview of the concept of "opportunity costs"
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