Which of the following concepts is most similar to the concept of "transfer earnings"?
A)factor mobility
B)factor price differentials
C)factor payments
D)equal net advantage
E)opportunity cost

Question

Quizplus · Accepted Answer

Transfer earnings refer to the minimum payment required to keep a factor of production in its current use, which is similar to the concept of opportunity cost, as it represents the next best alternative foregone.

Which of the Following Concepts Is Most Similar to the Concept