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- In economics, the concept of opportunity cost is related to both the alternatives and decision-making.
Question 1:
In economics, the concept of opportunity cost is related to both the alternatives and decision-making. A friend offers you a Coke, a Pepsi, or a Diet Coke. You dont like Diet Coke, so after some thought, you take the Pepsi. In this case, what is the opportunity cost of your choice?
A. The Pepsi
B. The Diet Coke
C. The Coke plus the Diet Coke
D. The Coke
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