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Opportunity Costs: Defintion and its application

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Define opportunity cost and explain why it an important factor to consider in financial analysis.

Cite an example in which it is not possible to measure exactly the opportunity cost of an alternative. Is it possible to measure exactly the opportunity cost of an alternative in most situations?

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Solution Summary

The problem deals with defining opportunity costs and how these costs affect the decision-making of companies.

Solution provided by:
Chidi Ngene, M. Sc.
Education
  • B. Sc., University of Nigeria
  • M. Sc., London South Bank University
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