Question

Opportunity cost means that something needs to be replenished. given up. ignored. paid for.

Answer 1

Answer:

Opportunity cost means that something needs to be (B) given up. Opportunity cost happens when you desire to buy 2 items but you can only afford to pay for 1. The value of the opportunity cost will be the value of the item you have to forgo or give up.

Explanation:

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Answer 2

Given up is the answer.

Explanation:

• Opportunity cost means cost of next best alternative forgone.
• Opportunity cost helps to make better decision.
• It is very essential phenomena in everyday life.
• Opportunity cost is the keyword of the economics.
• It is the basic relationship between scarcity and choice.
• It deals with how to used a scarce resources in effective manner.
• In companies project was evaluated and selected by using opportunity cost.
• Opportunity cost also called as implicit cost.
• Mathematical formula of opportunity cost is: Opportunity Cost = Return on Most Profitable Investment Choice - Return on Investment Chosen to Pursue.

To Learn More...

1.Why is ppc also called as opportunity cost

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2.calculate the marginal opportunity cost of commodity X for the given combination commodityX0,1,2,3,4,5 commodityY 100,95,85,70,50,25

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