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What is Opportunity cost and provide an example (own words)

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Answer:

Opportunity cost refers to what you have to give up to buy what you want in terms of other goods or services. ... For example, “cost” may refer to many possible ways of evaluating the costs of buying something or using a service. Friends or newscasters often say “It cost me $150 to buy the iPhone I wanted.”

Step-by-step explanation:

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