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Week 1 Discussion 1 What is the opportunity cost? Define the opportunity cost in your words. Opportunity cost is the trade off for every choice that is made. When presented with options, opportunity cost is what you give up when making your choice on som

Week 1 Discussion 1

What is the opportunity cost? Define the opportunity cost in your words.

Opportunity cost is the trade off for every choice that is made.  When presented with options, opportunity cost is what you give up when making your choice on something.  A statement was made to me a long time ago that in simple terms is it’s a value of the road not taken.  So, what are you giving up in order to take the road you decide to travel.  These choices can be significant and may sometimes low in value.

What was the opportunity cost for LeBron James when he determined to dir

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