The opportunity cost of a good is the same as its

Name: The opportunity cost of a good is the same as its
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The opportunity cost of a good is the value of the next best alternative that must be given up in order to obtain that good. This is represented by the relative price, which compares the price of one good to another in terms of what must be given up to obtain it. Therefore, the best choice is A.

The Opportunity Cost of a Good Is the Same as Its