Cryptocurrency Q&A
Which answer best defines opportunity cost?
Which answer best defines opportunity cost?
Maria
Wed Jan 15 2025
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6 answers
1079
I'm trying to understand the concept of opportunity cost. I want to know which answer among the options best explains this economic term.
6 answers
Bianca
Fri Jan 17 2025
The forgone option with the highest value is considered the opportunity cost.
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Filippo
Fri Jan 17 2025
Opportunity cost represents the concept of value sacrifice in decision-making.
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Raffaele
Fri Jan 17 2025
When an individual or entity chooses one option, they inevitably forego other potential options.
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Martino
Thu Jan 16 2025
In economic terms, this cost reflects the trade-offs inherent in resource allocation.
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DigitalDukedom
Thu Jan 16 2025
For instance, if a factory decides to produce more of one product, it must reduce the production of another.
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