Label whether each of the following costs is most likely fixed (F) or variable (V).
Definitions:
Opportunity Cost
The cost of forgoing the next best alternative when making a decision, essentially what is given up when choosing one option over another.
Specialization
The practice of focusing effort on a particular field or discipline, leading to increased efficiency and expertise in that area.
Cheese
A dairy product made from curdled or cultured milk, coming in various textures and flavors.
Opportunity Cost
The loss of value from not opting for the closely competing alternative when faced with a decision.
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