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What is opportunity cost?

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What is opportunity cost?

Posted by Annika Sharma 7 years, 10 months ago

CBSE > Class 12 > Economics

5 answers

Ankur V 7 years, 10 months ago

When Resources are continuously shifted from USE 1 (Opportunity-1 ) to USE 2 (Opportunity -2) then the sacrifice has to be taken for availing additional unit of Good Y In other word Opportunity cost is the total sacrifice made when Resources are shifted from Good X to Good Y

Sonal Sachdeva 7 years, 10 months ago

the cost of next best alternative foregone is known as opportunity cost

Vaidehi Saraf 7 years, 10 months ago

The cost which is required to avail a opportunity

Aamir Beg 7 years, 10 months ago

The next best alternate use resources is called opportunity cost

Riya Ahuja 7 years, 10 months ago

It is the value of a factor in its alternative use

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