Real-Life Examples of Opportunity Cost

Doreen Fagan

Open Vault from Federal Reserve Bank of St. Louis

Abstract: How do we define opportunity cost? It's the 'value of the next-best alternative when a decision is made; it's what is given up,' explains senior economic education specialist Andrea Caceres-Santamaria.

Date: 2020-01-29
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Persistent link: https://EconPapers.repec.org/RePEc:fip:l00100:102568

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