Examlex
Which one of the following does not occur in perfect competition?
Opportunity Cost
The cost of foregoing the next best alternative when making a decision, representing the benefits one misses out on when choosing one option over another.
Sunk Cost
A cost that has already been incurred and cannot be recovered.
Market Value
The current price at which an asset or service can be bought or sold.
Water Policy
Regulations and standards governing the use, management, and conservation of water resources to ensure sustainability and equitable access.
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