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The Process of Calculating LS and LF _____________________________

question 90

Multiple Choice

The process of calculating LS and LF _____________________________.


Definitions:

Opportunity Cost

The benefit that is missed or given up when choosing one alternative over another.

Hour

A unit of time equal to 60 minutes.

Opportunity Cost

Skipping over the possibility of gain from multiple options by deciding on a single one.

Opportunity Cost

The cost of choosing one option over alternative uses of resources or opportunities.

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