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The term opportunity cost points out that o not all individuals will make the most of lifes opportunities because some wil
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Option"d" is correct i.e  any decision regarding the use of a resource involves a costly choice

opportunity cost refers to the next best alternative foregone, in opportunity cost we take the decision based on the resources as well as the cost involved.

For instance, if you have $1,00,000 and choose to invest it in a product line that will generate a return of 6%. If you could have spent the money on a different investment that would have generated a return of 9%, then the 3% difference between the 2 alternatives is the foregone opportunity cost of this decision.

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