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The first step in constructing a theory through the inductive method is to:
Opportunity Cost
The cost of missing out on the next best alternative when making a decision.
Point A
Typically used as a reference point in diagrams or illustrations in economics or geometry.
Opportunity Cost
The dues for not selecting the following most suitable option when making decisions.
Point D
Another specific point on a graph or economic model, indicative of a different state or condition than Point C, useful in comparative analysis.
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