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    Concept of opportunity cost

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    Look at the concept of opportunity cost. Provide an example of how it relates to electronics retail sales. Explain how the concepts relate to why you are getting a degree?

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    In economics, an opportunity cost, or economic cost, is the cost of something in terms of an opportunity forgone (and the benefits that could be received from that opportunity). Opportunity cost need not be necessarily assessed in monetary terms, but rather can be assessed in terms of anything that is of value to the person or ...

    Solution Summary

    The solution answers the question(s) below. The concept of opportunity costs are determined.