Question

The loss of other alternatives when one alternative is chosen.” What do you thing how opportunity cost affect decision making and how it affects Marginal Opportunity Cost (MOC) explain with an appropriate diagram.​

Answer 1

Answer:

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Explanation:

Opportunity costs apply to many aspects of life decisions. Often, money becomes the root cause of decision-making. If you decide to spend money on a vacation and you delay your home's remodel, then your opportunity cost is the benefit living in a renovated home.