The cost associated with foregoing the opportunity to employ a resource in its best alternative use is called:
A) a sunk cost.
B) an opportunity cost.
C) a fixed cost.
D) total cost.
Correct Answer:
Verified
Q2: Refer to Table 3.1.Suppose that you have
Q3: Refer to Table 3.2,which shows some costs
Q4: Refer to Figure 3.1.If one of the
Q5: Opportunity cost refers to:
A) the amount of
Q6: Total benefits minus total cost equals:
A) gross
Q7: Refer to Table 3.2,which shows some costs
Q8: Refer to Table 3.2,which shows some costs
Q9: Refer to Table 3.2,which shows some costs
Q10: Refer to Table 3.2,which shows some costs
Q11: Refer to Table 3.1.Suppose that you have
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