The term opportunity cost applies to a resource that a company ________.
A)is thinking about purchasing
B)already owns
C)has committed to purchase
D)already owns or has committed to purchase

Question

Quizplus · Accepted Answer

Opportunity cost applies to a resource that a company already owns or has committed to purchase because it represents the value of the next best alternative that was given up in order to acquire or use that resource.

The Term Opportunity Cost Applies to a Resource That a Company