Multiple Choice
What is the term for giving up one choice for another opportunity?
A) choice cost
B) opportunity cost
C) direct cost
D) implicit cost
E) explicit cost
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q13: Exhibit 2.1<br><br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1006/.jpg" alt="Exhibit 2.1
Q14: Table 2.1<br> <span class="ql-formula" data-value="\begin{array}{l}\text
Q17: When deciding how to divide up tasks,
Q20: Adam Smith believed that people's pursuit of
Q21: If Robin has an absolute advantage in
Q22: The law of comparative advantage does not
Q23: In one week, Sami can knit 5
Q44: The U.S.economy is best characterized as a:<br>A)barter
Q53: If Jeremy has an absolute advantage in
Q156: Specialization often leads to gains in productivity