Under the Opportunity-Cost Approach, the Relevant Cost of Any Alternative

question 121

True/False

Under the opportunity-cost approach, the relevant cost of any alternative is the incremental of the alternative plus the opportunity cost of the profit foregone from choosing the alternative.

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Definitions:

Full-Rectification

The conversion of AC (alternating current) to DC (direct current) using both halves of the input waveform, usually in power supply or electronic signal processing.

Rotor

The rotating part of an electrical or mechanical device, such as the part in an electric generator or motor which turns around a stationary part called a stator.

Stator

(1) A stationary element in a rotating component; (2) The stationary member of an alternator into which electrical current is induced by the rotor; (3) Intermediary in a torque converter torus located between the impeller and turbine; redirects oil from the turbine back to the impeller.

Rectifier

An electrical device that converts alternating current (AC) to direct current (DC), often used in power supply systems.