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Suppose you have to spend $16 and your options are to spend it on either bags of peanuts or bags of cashews. Peanuts cost $4

Suppose you have to spend $16 and your options are to spend it on either bags of peanuts or bags of cashews. Peanuts cost $4 each and cashews cost $16 each. What is your opportunity cost of buying a bag of cashews? (Hint: the answer willnotbe your out-of-pocket cost of $16.)

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