Out-of-pocket costs are deﬁned as the beneﬁt that is sacriﬁced when the choice of one action precludes taking an alternative course of action.

Name: Out-of-pocket costs are deﬁned as the beneﬁt that is sacriﬁced when the choice of one action precludes taking an alternative course of action.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Out-of-pocket costs refer to direct expenses that individuals pay with their own money, not the opportunity cost of choosing one action over another.

Out-Of-Pocket Costs Are Deﬁned as the Beneﬁt That Is Sacriﬁced