If I have a choice to buy a sweater and a new pair of pants and I choose the sweater, my opportunity cost is

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asked May 12, 2023 177k views

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Erick Boshoff · Answer 1 · 2023-05-16T07:10:23+0000

Answer:

The new pair of pants

Step-by-step explanation:

Opportunity cost is the value of the next-best alternative when a decision is made; it's what is given up. Hence, you gave up the option to buy the pair of pants in favor of buying the sweater.

If I have a choice to buy a sweater and a new pair of pants and I choose the sweater, my opportunity cost is

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