What do foregone interest on money invested in a firm,wages paid to production workers,interest paid on bank loans,and the purchase of parts for assembly have in common?

Question

Quizplus · Accepted Answer

All of the listed costs involve giving up the opportunity to use resources in their next best alternative use, which is the definition of opportunity cost. Therefore, all are examples of opportunity costs.

What Do Foregone Interest on Money Invested in a Firm,wages