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AP Microeconomics
Unit 1 – Basic Economic Concepts
Topic 1.1
Opportunity cost refers to?
The total cost of all available alternatives
The next best alternative foregone as a result of a decision
The benefits gained from a decision
The monetary cost of a decision
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AP Microeconomics - 1.1 Basic Economic Concepts: Scarcity
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Opportunity Cost
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About Us
About Fiveable
Blog
Careers
Testimonials
Code of Conduct
Terms of Use
Privacy Policy
CCPA Privacy Policy
Resources
Cram Mode
AP Score Calculators
Study Guides
Practice Quizzes
Glossary
Crisis Text Line
Request a Feature
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© 2024 Fiveable Inc. All rights reserved.
AP® and SAT® are trademarks registered by the College Board, which is not affiliated with, and does not endorse this website.
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