Using an example, explain what opportunity cost is. (own words)

Discuss the concept of opportunity cost with an example

When economists refer to the “opportunity cost” of a resource, they mean the value of the next-highest-valued alternative use of that resource. If, for example, you spend time and money going to a movie, you cannot spend that time at home reading a book, and you can't spend the money on something else.

Explanation:

C OR D

I need to tell you this guys.  I got b wrong.  It's either c or d.

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