Opportunity Cost Definition | 4 Examples | Economics | BoyceWire
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Nov 06, 2020 · Opportunity cost is the cost of taking one decision over another. This cost is not only financial, but also in time, effort, and utility. Opportunity cost can lead to optimal decision making when factors such as price, time, effort, and utility are considered. It’s necessary to consider two or more potential options and the benefits of each.
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