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Sagot :
Final answer:
Opportunity cost is crucial in economics when resources are scarce, defining the value of the best alternative forgone in decision-making.
Explanation:
Opportunity cost is the key concept in economics within the context of scarcity. It refers to the value of the best alternative forgone when making a choice. When resources are scarce, the relevant cost in economics is the cost of the opportunity that is foregone.
Learn more about Opportunity cost in economics here:
https://brainly.com/question/33630246
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