When an action is chosen, the highest- valued alternative NOT chosen is called the
A) implicit cost.
B) opportunity cost.
C) explicit cost.
D) accounting cost.
Correct Answer:
Verified
Q137: In a market economy, what people do
Q138: When a university decides to add to
Q139: The economic resource that organizes the use
Q140: Sue, who has a law degree, earns
Q141: The opportunity cost of something you decide
Q143: Because we face scarcity, every choice involves
A)
Q144: When the government decides to provide tax
Q145: When a photographer decides to use a
Q146: Opportunity cost means the
A) accounting cost minus
Q147: The term used to emphasize that making
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents