dashagholar dashagholar
  • 11-11-2015
  • Social Studies
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How does cost differ from opportunity cost

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WorldCitizen WorldCitizen
  • 11-11-2015
Cost is usually taken to be the prize (real prize, but not necessarily money: could be resources) paid for something.

Opportunity cost is a loss of an opportunity: it is not a loss of something that you had but of something that you could have had; an opportunity you loose, not something you already have that you loose.
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