When Flora quits her job earning $85,000 a year to open hers own business, the income that she gives up is considered _____ cost.

Name: When Flora quits her job earning $85,000 a year to open hers own business, the income that she gives up is considered _____ cost.
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Question

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The income Flora gives up by quitting her job to start her own business is considered an opportunity cost, as it represents the value of the next best alternative foregone by choosing one option over another.

When Flora Quits Her Job Earning $85,000 a Year to Open