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What Is an Anomaly, and What Are the Three Types

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What is an anomaly, and what are the three types of anomalies?


Definitions:

Opportunity Cost

The financial consequence of bypassing the subsequent optimal opportunity in favor of another decision.

Emeralds

Precious green gemstones that are highly valued for their beauty, rarity, and hardness.

Rubies

Precious red gemstones that are valued for their color, hardness, and rarity.

Opportunity Cost

The potential benefit that one misses out on when choosing one alternative over another.

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