Once a sports team signs a player to a guaranteed contract, the value of that contract becomes a nonmonetary opportunity cost.

Name: Once a sports team signs a player to a guaranteed contract, the value of that contract becomes a nonmonetary opportunity cost.
Brand: Quizplus
Rating: 4.9 (68 reviews)

Question

Quizplus · Accepted Answer

The value of a guaranteed contract is a monetary cost because it represents a specific financial obligation the team must fulfill, not an opportunity cost which refers to the benefits a team foregoes by choosing one option over another.

Once a Sports Team Signs a Player to a Guaranteed