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Diana Gilliam
on Nov 17, 2024

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Henry can make a bird house in 3 hours and he can make a bird feeder in 1 hour. The opportunity cost to Henry of making a bird house is 1/3 bird feeder.

Opportunity Cost

The price paid for not choosing the next most favorable option when a decision is made.

  • Understand the meaning and computation of opportunity cost and its importance in making economic choices.
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ziyao ChengNov 23, 2024
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