Clarifying Opportunity Costs
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Clarifying (Opportunity) Costs
Author | : Daniel F. Stone |
Publisher | : |
Total Pages | : 9 |
Release | : 2014 |
Genre | : |
ISBN | : |
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Opportunity cost is considered to be a fundamental concept in economics. But the definition of the term continues to be controversial. I describe how the term is widely used in two distinct ways, both in the academic and non-academic literatures. I propose a practical way for educators to clarify the concept and related terminology.
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