An Opportunity Cost Is a Relevant Cost When Making a Business

question 29

True/False

An opportunity cost is a relevant cost when making a business decision.

---

Definitions:

Complements

Goods or services that are consumed together because the use of one increases the value or demand for the other.

Inferior Good

A type of good whose demand decreases as the income of the consumer increases.

Instant Noodles

Pre-cooked and dried noodle block, typically sold with a packet of flavoring powder and/or seasoning oil, intended for quick preparation.

Chili Peppers

Fruits of plants belonging to the genus Capsicum, used worldwide to add heat and flavor to dishes.