According to Opportunity Cost Theory,the Cost or Price of a Commodity

question 31

True/False

According to opportunity cost theory,the cost or price of a commodity is determined by,or can be inferred exclusively from,its labor content.

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Definitions:

Assumption

A thing that is accepted as true or as certain to happen, without proof.

Past

A term referring to earlier times or events that have occurred before the present, often used in the context of history, memory, or assessment.

Homelessness

describes the condition of lacking stable, permanent, and adequate housing, resulting in living on the streets, in shelters, or in temporary accommodations.

Values

Core beliefs or principles that guide an individual's or society's behavior and decision-making, reflecting what is considered important or worthwhile.