The opportunity cost of a good is the same as its

Question

Quizplus · Accepted Answer

The opportunity cost of a good is best represented by its relative price, which reflects the value of the good in terms of the amount of other goods or services that could be obtained instead. This concept is different from its money price (the amount of money needed to purchase it) or its price index (which measures the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services).

The Opportunity Cost of a Good Is the Same as Its