Question

What is the opportunity cost in this scenario?

Answer 1

Explanation:

• oppertunity cost is type of cost incurred by sacrificing other alternatives .
• oppertunity cost is chosen only one from different alternatives .
• For example , A farmer would willing to cultivate a rice and wheat at point , but he can cultivate only one grain at a time so he should sacrifice either rice or wheat . therefore farmer chosen only one from other alternatives .