Ask Question
27 January, 04:08

Which type of cost occurs when an individual pays for a piano lesson instead of going to a movie?

+2
Answers (1)
  1. 27 January, 04:24
    0
    This type of cost is called an opportunity cost.

    Explanation:

    Opportunity cost is the profit lost when one alternative is selected over another. In this case, the individual selects a piano lesson over a movie. One alternative was selected over another.
Know the Answer?