The opportunity cost of an action:
A) is equal to the marginal cost of an action
B) is equal to explicit cost
C) is equal to the next best alternative forgone
D) is the total cost of an action
Correct Answer:
Verified
Q5: In the short-run:
A)All costs are variable
B)Some costs
Q6: A business owner makes 50 items a
Q7: A business owner makes 1000 items a
Q8: You and two partners start a company.However,your
Q9: After graduating from college,Jim had three choices,listed
Q11: Accountants and Economists differ in their calculations
Q12: A business owner makes 50 items a
Q13: James used $250,000 from his savings account
Q14: Opportunity costs arise due to
A)Resource scarcity
B)Interest rates
C)Limited
Q15: James used $200,000 from his savings account
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