Opportunity cost is a concept in economics that refers to the value of the next best alternative that is forgone when making a choice — i.e., the cost of the best alternative that is not chosen.

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It sounds complicated, but opportunity cost is a really simple concept. Take that famous conundrum: You come to a fork in the road, and decide to go left. The opportunity cost of that decision is what ...

In September 2023, David Leonhardt wrote an opinion piece provocatively headlined “Why Does Duke Have So Few Low-Income Students?" with images of graduation paraphernalia like mortar boards and ...