Opportunity Cost Is Defined as

question 248

Multiple Choice

Opportunity cost is defined as

• A) the value of the next-best alternative that must be sacrificed to attain a want.
• B) the least-costly means to produce output.
• C) the value of the output currently received by an individual or a corporation.
• D) the return from a given unit of labor.

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Definitions:

Proposal

A plan or suggestion, especially in a formal or professional context, put forward for consideration or discussion by others.

Non-technical Content

Information that is accessible to a general audience, not requiring specialized knowledge or expertise.

Reader's Point of View

The perspective from which a reader approaches or interprets a text or information.

Formality

The level of adherence to established conventions or protocol, often determined by the context or audience.