The term opportunity cost refers to the
A) Value of every other good given up when a good or service is obtained.
B) Financial costs of all the factors of production used to produce a good or service.
C) Amount of resources used to produce a good but not a service.
D) The most desired good or service given up when something is obtained.
Correct Answer:
Verified
Q1: International participants
A)Take no part in American markets.
B)Participate
Q3: Which of the following is purchased in
Q4: A market in which final goods and
Q5: Which of the following is purchased in
Q6: A lower quantity demanded of a good
Q7: Which of the following is a market
Q8: According to the law of demand,a demand
Q9: A factor market is any place or
Q10: The goal of the consumer in a
Q11: The goal of the business firms in
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