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MID 12 Which of the following best describes an opportunity cost? 1. expected future costs that differs among alternatives 2. costs that were incurred in

MID 12 Which of the following best describes an "opportunity cost"? 1. expected future costs that differs among alternatives 2. costs that were incurred in the past and cannot be changed 3. the distribution of all products to be sold 4. benefits foregone by not choosing an alternative course of action

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