Opportunity cost of an action is
A: the best choice that can be made.
B: the money cost.
C: the absolute cost.
D: the comparative cost.
E: the highest-valued alternative forgone.
A: the best choice that can be made.
B: the money cost.
C: the absolute cost.
D: the comparative cost.
E: the highest-valued alternative forgone.
举一反三
- In short run the shutdown point is that point at which A: price equals marginal cost. B: average fixed cost equals marginal cost. C: average variable cost equals marginal cost. D: average total cost equals marginal cost.
- If, in long run equilibrium, the competitive price of some good is $16.67, then, for each and every firm in the industry, A: marginal cost > average cost = $16.67. B: marginal cost < average cost = $16.67. C: $16.67 = marginal cost = average cost. D: $16.67 = marginal cost > average cost.
- An opportunity cost is the cost of a(an) ______opportunity A: false B. C. D. B: missed C: absolute D: comparative
- Sunkcost is another term for historical cost or past cost.
- After constructing a new factory, the cost of building the factory is a A: past cost. B: sunk cost. C: variable cost. D: None of the above answers are correct.