Opportunity cost is best described by which of the following statements?
Choose 1 answer:
Choose 1 answer:
(Choice A)
The value of the next best option given up when making a decision
(Choice B)
The tradeoffs faced when choosing how to use a scarce resource
(Choice C)
The price to a consumer of a good or service
(Choice D)
The cost a buyer sees for something they want
(Choice E, Checked)
The monetary cost of any economic transaction
Answers (2)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Opportunity cost is best described by which of the following statements? Choose 1 answer: Choose 1 answer: (Choice A) The value of the next ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
How do safe investments usually have a lower rate of return than riskier ones?
Answers (1)
Economists usually assume that people act in a rational, self-interested way. In explaining how consumers make choices this means that economists believeA) consumers will always buy goods and services at the lowest possible prices.
Answers (1)
Which economic system is defined as the use of private resources to make a profit? A socialism В. capitalism communism D total command
Answers (1)
In reviewing the agreement between AdCreate and Anchor Motors, Jacob Stein found that sales ofAnchor rose 2.8% compared to the previous year in the third quarter. AdCreate paid the media$450,000 for Anchor Motors ads during the same period.
Answers (1)
The sticky-wage theory of the short-run aggregate supply curve says that when the price level rises more than expected, production is Select one: a. less profitable and employment and output rises. b. less profitable and employment and output falls.
Answers (1)
New Questions in Business
Explain, in your own words and step-by-step, what happens to wastewater once it reaches the treatment plant. (6 steps)
Answers (1)
The following information is from the 2017 records of Armand Music Shop: Accounts receivable, December 31, 2017 $43,000 (debit) Allowance for Bad Debts, December 31, 2017 prior to adjustment 1,500 (debit) Net credit sales for 2017 178,000 Accounts
Answers (1)
Green Glass recently pays dividends. Future dividends are projected at $2.5, $3.5, and $4.5 over the next three years, respectively. Beginning four years from now, the annual dividend is expected to grow at 4% annually forever.
Answers (1)
What are two tasks (out of several) commonly performed by operating systems?
Answers (1)
Question 2 1 pts How much is the fine for your thost offense for failure to keep insurance? $1000 $400 $200 $20
Answers (2)