The value of the best alternative sacrificed to obtain something you want is referred to as
A) explicit cost.
B) opportunity cost.
C) marginal cost.
D) sunk cost.
B
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In the Keynesian model, an increase in government spending increases
A) the money supply by an equal amount. B) the money supply by a multiple amount. C) aggregate demand by an equal amount. D) aggregate demand by a multiple amount.
Someone who has just inherited a "goldmine" has received a great deal of ________
A) wealth B) money C) income D) currency E) liquidity
What is the most likely effect of the development of cell phones on the pay phone industry?
a. the own price elasticity of pay phones increases b. the own price elasticity of pay phones decreases c. the price elasticity of home phones does not change d. none of the above
Government regulators might suspect a firm of engaging in predatory pricing if it charges prices that seem to be too __________
Fill in the blank(s) with correct word