Opportunity cost is the equivalent of:
A)explicit cost.
B)implicit cost.
C)economic cost.
D)sunk cost.

Name: Opportunity cost is the equivalent of: A)explicit cost. B)implicit cost. C)economic cost. D)sunk cost.
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Question

Quizplus · Accepted Answer

Opportunity cost is the cost of foregone alternatives, both explicit and implicit, and is considered in economic cost. It is not the same as sunk cost, which are costs that have already been incurred and cannot be recovered.

Opportunity Cost Is the Equivalent Of