IR 213 USC: The loss of potential gain from other alternatives when one alternative is chosen. In comparative advantage, opportunity cost is used to gauge what one is comparatively better at producing and gives insights into what one should specialize in.

Question

The loss of potential gain from other alternatives when one alternative is chosen. In comparative advantage, opportunity cost is used to gauge what one is comparatively better at producing and gives insights into what one should specialize in.

Samuel Konsker · Accepted Answer

Opportunity Cost

IR 213 USC

The loss of potential gain from other alternatives when one alternative is chosen. In comparative advantage, opportunity cost is used to gauge what one is comparatively better at producing and gives insights into what one should specialize in.

Opportunity Cost

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