Jesusgirl
Jesusgirl Jesusgirl
  • 17-05-2016
  • Business
contestada

when economists measure opportunity cost to help determine the true value of economic decisions

Respuesta :

rayannfitts
rayannfitts rayannfitts
  • 17-05-2016
Opportunity Cost

An opportunity cost is defined as the value of a forgone activity or alternative when another item or activity is chosen. Opportunity cost comes into play in any decision that involves a tradeoff between two or more options. It is expressed as the relative cost of one alternative in terms of the next-best alternative. Opportunity cost is an important economic concept that finds application in a wide range of business decisions.

Answer Link

Otras preguntas

If one is subtracted from six times a certain number, the result is 47. Find the number.
What is a key difference between the phosphorus cycle and the carbon and nitrogen cycles? Phosphorus is present in both living and non-living things. Plants abs
Identify the importance of carbon. Check all that apply
Bring joy to the neighborhood summary
Which of the following is equivalent to the sum of the expressions a² - 1 and a +1 ?
Work Out (10-3x2) to the power of two
Sage Learning Centers was established on July 20 to provide educational services. The services provided during the remainder of the month are as follows: July
2. What happened to the garden after the childrenstopped coming there?​
Which reactions have a positive Δrxn? A(g)+B(g)⟶C(g) 2A(g)+2B(g)⟶5C(g) A(s)+B(s)⟶C(g) 2A(g)+2B(g)⟶3C(g)
list any four effective measure to preserve the nepali painting​