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Opportunity Cost Is Best Defined As

Question 224

Multiple Choice

Opportunity cost is best defined as:


A) the monetary price of any productive resource.
B) the amount of labour which must be used to produce one unit of any product.
C) the ratio of the prices of imported goods to the prices of exported goods.
D) the amount of one product which must be given up to produce one more unit of another product.

Correct Answer:

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