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Home : 2003 : Oct : 15
Opportunity Cost is what you have to give up when you make a decision. For example, if you have $10 and decide to buy something, you give up everything else you could have bought with that $10. So in your case, the boy probably has a big list of stuff he wants and only so much money. When he spends his money, he is giving up everything else on the list. So the opportunity cost is everything else on the list.
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