Which of the following terms describes the next best alternative that must be sacrificed as a result of making a particular choice?

Microeconomics.

Opportunity cost

Macroeconomics.

Scarcity.

Solutions

Expert Solution

Opportunity Cost

Opportunity cost can be defined as the next best alternative that is available to the company, business or investors that has been foregone and not been selected.

Rahul Sunny answered 1 year ago

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