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AP Microeconomics
Unit 1 – Basic Economic Concepts
Topic 1.1
Unit 1 – Basic Economic Concepts
1.1 Basic Economic Concepts
mixed difficulty
Opportunity cost refers to?
The monetary cost of a decision
The total cost of all available alternatives
The benefits gained from a decision
The next best alternative foregone as a result of a decision
Study guides (1)
AP Microeconomics - 1.1 Basic Economic Concepts: Scarcity
Key terms
Opportunity Cost
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