Examlex
The sum of cumulative frequencies in a distribution always equals 1.
Opportunity Cost
The evasion of possible gains from diverse options by firmly deciding on one.
Alternative Foregone
The next best choice available to someone who has made a decision, also known as the opportunity cost.
Opportunity Costs
The financial downside to eschewing the next top alternative in the spectrum of choices.
Marginal Costs
Marginal costs refer to the additional cost incurred from producing one more unit of a good or service.
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