A good or service that is forgone by choosing one alternative over another is called a(n) :
A) explicit cost.
B) opportunity cost.
C) historical cost.
D) accounting cost.
Correct Answer:
Verified
Q3: The highest valued alternative that must be
Q3: Which of the following sayings best reflects
Q4: The opportunity cost of an economic decision
Q6: Which of the following does not illustrate
Q9: Which of the following correctly lists the
Q10: Because of the problem of scarcity, each
Q11: Opportunity cost:
A) represents the best alternative sacrificed
Q14: Which fundamental economic question is most closely
Q16: The opportunity cost to a city for
Q17: The opportunity cost of watching television is:
A)
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