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The value of the next best alternative is an example of Group of answer choices marginal cost (i.e., change in cost for 1 more unit
The value of the next best alternative is an example of Group of answer choices marginal cost (i.e., change in cost for 1 more unit produced) opportunity cost (i.e., returns of a possible option minus returns of a chosen option) average cost (i.e., total cost divided by units produced) opportunity revenue
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International Economics Theory and Policy
Authors: Paul R. Krugman, Maurice Obstfeld, Marc J. Melitz
9th Edition
978-0132146654, 0132146657, 9780273754091, 978-0273754206
