Business, 19.11.2020 21:00, wavy419

Kate enjoys horseback riding and has been wanting a new show saddle for her horse. She has been saving her baby-sitting money for a year and finally has the $680. Prior to making the purchase, Kate’s dad congratulates her on meeting her savings goal. He also reminds her to really consider the opportunity cost of her decision. Kate is confused about what her dad means by this. How would you explain the opportunity cost to Kate?

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Kate enjoys horseback riding and has been wanting a new show saddle for her horse. She has been savi...