Question

which one of the following is correct about the opportunity cost
a. opportunity cost is always higher than the given price.
b. opportunity cost is always less than the given price.
c. opportunity cost is always calculated in money.
d.opportunity cost can be less than more than more than or equal to given price
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Answer 1

Explanation:

BUSINESS BUSINESS ESSENTIALS

Opportunity Cost

By ADAM HAYES

Reviewed By AMY DRURY

Updated Aug 21, 2020

What Is Opportunity Cost?

Opportunity costs represent the potential benefits an individual, investor, or business misses out on when choosing one alternative over another. The idea of opportunity costs is a major concept in economics.

Because by definition they are unseen, opportunity costs can be easily overlooked if one is not careful. Understanding the potential missed opportunities foregone by choosing one investment over another allows for better decision-making.

While financial reports do not show opportunity costs, business owners often use the concept to make educated decisions when they have multiple options before them. Bottlenecks, for instance, are often a result of opportunity costs.

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Answer 2

Answer:

a

Explanation:

opportunity cost is always higher than the given pri