February 21, 2017

Homework Help: Economics305

Posted by Mizzy Kay on Monday, February 8, 2010 at 4:36pm.

We make choices as consumers every day. Opportunity cost is defined as a person’s "next best alternative" or "the cost of what you give up when you make a choice."

Think of a recent decision you made regarding your career. What was your opportunity cost for making that choice? What was your "next best alternative"?

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