# What is opportunity cost and how do you calculate it? Is there a formula for it?

## Question:

What is opportunity cost and how do you calculate it? Is there a formula for it?

## Calculating Different Costs:

Different cost calculation estimates the prime cost of a unit of production or job conducted. One of the fundamental indices of the foremost strategy and notify is cost calculation. Cost calculation is critical to ensuring that all costs are protected and that the group sets a price

## Answer and Explanation: 1

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View this answer**Opportunity cost:**

The opportunity cost is the cost or value of the next best available option to an industry, corporation, or shareholder. The...

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Chapter 1 / Lesson 2What is Opportunity Cost? Learn the definition and explore real-life examples of this concept. Also, learn the types of opportunity costs and what they represent.