The opportunity cost of any business decision is
A. the cost per unit of output.
B. accounting cost divided by the level of output.
C. the cost of doing business in the future.
D. the cost of the next best alternative.
Answer: D
You might also like to view...
The quantity of items circulating in the economy that can be used as money is called
A) representative commodity money. B) the money supply. C) commodity money. D) fiat money.
Of all commercial banks, about ________ belong to the Federal Reserve System
A) 10% B) one half C) one third D) 90%
When the U.S. government provides military aid to other governments, this enters into the U.S. balance of payments account as
a. merchandise exports b. merchandise imports c. income payments on investments d. unilateral transfers e. change in U.S. assets abroad
The opportunity cost to society of producing one more unit of the good is
A. marginal cost. B. efficiency costing. C. the optimal cost. D. average cost.