Multiple Choice
Opportunity cost is generally considered a subjective measure.Given this fact, which of the following best describes the concept of opportunity cost?
A) It must be the same for everyone.
B) It is the value of all alternative activities that are forgone.
C) It has a maximum value equal to the minimum wage.
D) It is the value of the next best alternative foregone.
Correct Answer:
Verified
Correct Answer:
Verified
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