What is a lost opportunity cost?
I've heard about lost opportunity cost but I'm not entirely sure what it means. Could someone explain what a lost opportunity cost is and maybe provide an example to illustrate the concept?
What is lost opportunity cost?
I've heard about this concept called lost opportunity cost and I'm trying to understand what it means. Is it related to missed chances or potential earnings that could have been made by choosing a different course of action?
What is a synonym for lost opportunity cost?
I am looking for a word or phrase that means the same as 'lost opportunity cost'. I want to know if there's another way to describe this concept.