Opportunity Cost

Instructions:Opportunity cost is defined as “the amount of other products that must be foregone or sacrificed to produce a unit of a product.” Another way to look atit is the value of the activity which is the next best use of your time. This exercise will ask...

Opportunity Cost

Instructions: Opportunity cost is defined as “the amount of other products that must be foregone or sacrificed to produce a unit of a product.” Another way to look at it is the value of the activity which is the next best use of your time. This exercise will ask...