Economy, asked by pogbmovic3650, 1 year ago

If a commodity is provided free to public then what is its opportunity cost

Answers

Answered by Arslankincsem
0

A free good is a product that is not scarce, and therefore it is available without having any limit.


A free good is available in abundance and in great quantity which comes with zero opportunity cost to the society.


So, a product which is a free good is not necessarily a free good.


When economists refer to the word "opportunity cost" of a resource or a good, they often mean the value of the next highest valued alternative use of that resource.

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