Opportunity cost usually
A)cannot be measured
B)applies to labor but not to capital
C)is involved in calculating economic profit
D)is greater than the cash payment made to a resource
E)is less than the cash payment made to a resource

Question

Quizplus · Accepted Answer

Opportunity cost is involved in calculating economic profit as it considers the cost of the next best alternative foregone. It can be measured and is greater than the cash payment made to a resource. It applies to both labor and capital, not just labor.

Opportunity Cost Usually