Question

PLEASE HELP QUICKLY: (FIRST ANSWER GETS BRAINLIEST) PERSONAL & FAMILY FINANCE









Clyde is pursuing two clients for his consulting business. Time constraints prevent him from pursing both opportunities simultaneously. Clyde has a higher probability of landing Client A but the revenue generated would be smaller. The decision about which client to pursue is an example of which economic principle?





rational self-interest





trading





opportunity cost

Answer 1

Answer:

Opportunity Cost

Explanation:

there is a loss of potential gain when taking the other alternative for the other, so the answer has to be opportunity cost. Hope this helps.

Answer 2

Answer:

opportunity cost

Explanation:

Opportunity cost refers to the forgone benefits in a decision-making situation. Decision-making involves choosing among several alternatives. Each of the options has its merits. Once a choice has been made, the opportunity cost is the forfeited benefit from the next best alternative.

Because Clyde cannot pursue both clients at the same time, he has to decide on one. Choosing one client is forfeiting the gains from the other. The foregone benefits from the client who was not chosen represent the opportunity cost. Clyde has to decide which client to pursue; the other one becomes the opportunity cost.