Determine if allocating advertising expenditures to boost sales or investing in a new plant and equipment would entail the greater opportunity cost.

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• Analyze the concept of opportunity cost.

• Explain what is meant by opportunity cost.

• Explain how opportunity cost relates to the definition of economics.

• Determine if allocating advertising expenditures to boost sales or investing in a new plant and equipment would entail the greater opportunity cost. Explain and support your response.