Explain about opportunity cost. 5-6 lines.

Explain about opportunity cost. 5-6 lines.

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In every business structure, the management at some point has to make decisions on what to invest in and what to forego. Therefore, the investment foregone is that which is referred to as an opportunity cost in the business world. Alternative cost as it is also known has to be the best option that gives value to the company by choosing the second best option available and sacrificing the enjoying the benefit of the first choice……………………