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Resources on the Concept of Opportunity Cost
One of the most commonly used principles in economics is opportunity cost. The opportunity cost of something is simply the highest valued alternative that must be foregone when a choice is made. The following resources look at that concept in more detail.
Opportunity Costs and Tradeoffs
An examination of opportunity costs and tradeoffs
What are Opportunity Costs?
Article answers the question "What are Opportunity Costs?" for those new to economics.
Baseball Players and Opportunity Costs
Article shows how the Toronto Blue Jays used the microeconomic concept of Opportunity Cost in making their player personnel decisions.
A Season Later: Baseball Players and Opportunity Costs
Before the 2003 baseball season began, I wrote an article called “Baseball Players and Opportunity Costs” that used the concept of opportunity cost to examine the off-season roster moves made by the Toronto Blue Jays. This is the followup to that article.