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Define what opportunity cost is. Discuss what the opportunity cost of attending college is for you, noting that the concepts of opportunity (implicit, indirect) cost

Define what "opportunity cost" is. Discuss what the opportunity cost of attending college is for you, noting that the concepts of opportunity (implicit, indirect) cost and explicit monetary cost are not the same. Keep in mind that each decision has only one opportunity cost.

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Opportunity cost refers to the value of the next best alternative forgone when a decision is made In other words its the potential benefit that is los... blur-text-image

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