Suppose you spend time clipping coupons for cereal before going to the grocery store. However, once you arrive at the store you realize that the coupons have already expired. The time spent clipping coupons are an example of a ...

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28-06-2022
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Suppose you spend time clipping coupons for cereal before going to the grocery store. However, once you arrive at the store you realize that the coupons have already expired. The time spent clipping coupons are an example of a ...

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VidyaaTech2022 VidyaaTech2022 · Answer 1 · 2022-07-07T12:09:43+02:00

The time taken on clipping the coupons prior to going to the grocery store would be an opportunity cost.

What does the opportunity cost mean?

The opportunity cost is the amount that an individual has to forget on choosing another alternative.

When arriving at the grocery store, the individual got to know that the coupons he/she has have already been outdated. This shows that the time of clipping the coupons would result in the forgone benefits of availing of the coupon on time.

Therefore, the opportunity cost is represented by the time taken to clip the coupons.

Learn more about the opportunity cost in the related link:

https://brainly.com/question/24319061

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