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xz_007 [3.2K]
4 years ago
7

What is the opportunity cost in this scenario?

Social Studies
2 answers:
mario62 [17]4 years ago
8 0

First of all, let's define the concept of opportunity cost. It involves the amount of money or resources that are given up when choosing one existing option over another.

Therefore, in the presented example, due to the price increase in the transportation expenses, the visit to the Ouro Preto has been the opportunity cost beared.

ipn [44]4 years ago
7 0
<h3>Answer:</h3><h2><u><em>The decision to give up visiting popular Ouro Preto.</em></u></h2><h3>Explanation:</h3>

Opportunity cost is the profit lost when one choice is chosen over different. The idea is valuable only as a suggestion to consider all logical choices before making a judgment.  If economists regard to the “opportunity cost” of a support, they indicate the importance of the next-highest-valued alternative use of that support.

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