The opportunity cost of an economic action is
A) the value of the next best alternative that must be sacrificed
B) an issue in normative economic theory
C) the expense for the resources used plus the firm's profit
D) the out-of-pocket cost
E) the option to pay a reduced fee for the action
Correct Answer:
Verified
Q153: For an individual,opportunity costs
A) decrease as consumption
Q154: Individuals face opportunity costs because
A) the minimum
Q155: Assume that Kelly's various possible activities are
Q156: Carl is considering attending a concert with
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