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questions about opportunity cost pepe unchain Bnb Eth XRP crypto futures coinbase futures binance futures

How does opportunity cost work?

Please help keep Khan Academy free, for anyone, anywhere forever. Opportunity cost is the trade-off that one makes when deciding between two options. The example of choosing between catching rabbits and gathering berries illustrates how opportunity cost works.

What is the opportunity cost of a choice?

In microeconomic theory, the opportunity cost of a choice is the value of the best alternative forgone where, given limited resources, a choice needs to be made between several mutually exclusive alternatives.

How do you find the opportunity cost of a good X?

To find the opportunity cost of any good X in terms of the units of Y given up, we use the following formula: Not all costs are monetary costs. Opportunity costs are expressed in terms of how much of another good, service, or activity must be given up in order to pursue or produce another activity or good.

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