A Small Business Owner Is Planning to Purchase a New

question 39

Multiple Choice

A small business owner is planning to purchase a new office computer for $1,000. The opportunity cost of purchasing this computer is:

• A)$900
• B)$1,000
• C)$1,100
• D)Unknown, since we do not know the owner's next best alternative.

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Definitions:

Promotion

An advancement to a higher-level job with increased authority, responsibility, and pay.

Price

The amount of money expected, required, or given in exchange for something else, typically goods or services.

Distribution

Making products available to customers in the quantities desired.