That which we forgo, or give up, when we make a choice or decision is called
A. marginal cost.
B. real cost.
C. opportunity cost.
D. out-of-pocket cost.
Answer: C
Economics
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Rivalry among firms would tend to be high if
a. Firms are located further from each other b. Firms are located close to one another c. There is only one firm in the market d. None of the above
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The money multiplier is _____ when the reserve ratio is 12.5 percent
Fill in the blank(s) with correct word
Economics
Give an example not in the text of how quantity can become indeterminate.
What will be an ideal response?
Economics
Cartels are difficult to operate for which of the following reasons?
a) The work only if members keep to their agreed output b) they are illegal worldwide c) Firms in a cartel are likely to lose money d) The products are perfectly competitive
Economics