The opportunity cost of a hot dog in terms of hamburgers is the

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The opportunity cost of a hot dog in terms of hamburgers is the ratio of the money price of a hot dog to the money price of a hamburger. This is because in order to purchase a hot dog, one must give up the opportunity to purchase a hamburger with the same amount of money. The ratio of the prices of the two goods represents the opportunity cost of choosing one over the other.

The Opportunity Cost of a Hot Dog in Terms of Hamburgers