Question

Opportunity cost is also called as:

Answer 1

Answer:

When an option is chosen from alternatives, the opportunity cost is the "cost" incurred by not enjoying the benefit associated with the best alternative choice. ... In other words, the opportunity cost is the cost of the next best alternative for a product or service.

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Answer 2

Answer:

When an option is chosen from alternatives, the opportunity cost is the "cost" incurred by not enjoying the benefit associated with the best alternative choice. ... In other words, the opportunity cost is the cost of the next best alternative for a product or service.

The alternative name of opportunity cost is Economic cost.

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