Another Term for Opportunity Cost Is ________ Cost

question 41

Multiple Choice

Another term for opportunity cost is ________ cost.

• A) irrelevant
• B) unnecessary
• C) normative
• D) disappearing
• E) alternative

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Definitions:

Compensatory Damages

Payments awarded to a plaintiff to compensate for harm, loss, or injury suffered due to another's wrongful act.

Liquidated Damages

A predetermined amount of money that must be paid as compensation for failure to fulfill a contract, serving as a penalty or deterrent against breach.

Mitigate Damages

The legal requirement or effort to minimize the harm or loss suffered as a result of a breach of contract or other wrongdoing.

Non-Disclosure Agreement

A legal contract between at least two parties that outlines confidential material, knowledge, or information that parties wish to share with one another for certain purposes but wish to restrict access to or by third parties.