Opportunity Cost Is Best Described by Which of the Following

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Opportunity cost is a key concept in economics and has been described as expressing the basic relationship between scarcity and choice. O The opportunity cost of a decision is the value of the best forgone alternative.

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A Benefits foregone by choosing a particular alternative course of action B Costs that were incurred in the past and cannot be changed C The distribution of all products to be sold D Expected future costs that differ among alternatives.

. Costs that were incurred in the past and cannot be changed. The opportunity cost is identified as the benefit that a person gets from choosing alternative options and the other not selected options. Which of the following best describes an opportunity cost.

D The cost incurred in training new staff. Costs that were incurred in the past and cannot be changed. It is also the cost of alternative forgone.

Expected future costs that differ among alternatives. Benefits foregone by choosing a particular alternative course of action. A Opportunity costs are incurred when trade-offs are made.

He decides to go for farming. It is a relevant cost in decision making and is part of the traditional accounting records. The government will be able to improve the road system encouraging more people to drive on vacations.

Expected future costs that differ among alternatives Contribution margin per unit is best described by which of the following. The time that you spent downloading and registering the app 4th option. Cost of input tends to go up - Past Question and answers for schoolworks.

O Some economic decisions have zero opportunity cost. The distribution of all products to be sold. A relevant cost is best described by which of the following.

Opportunity cost is the cost of an action that was not chosen or selected. Which of the following best describes an opportunity cost. 5 An opportunity cost is best described by which of the following.

View the full answer. In simple terms opportunity cost is the benefit not received as a result of not selecting the next best option. A special bargain or scale at below market price B.

Which of the following best describes the opportunity cost of a year of college. So the time used for d. о The opportunity cost of attending college is the same for all.

An opportunity cost is best described by which of the following. A factor that restricts production or sales of a product. A The cost of an alternative course of action.

100 1 rating Here the correct option is. For example Mr A has two choices - taking employment of 20000 per annum or being self-employed setting up a farm that will generate 25000 per annum. Social Security benefits will provide income for the elderly and disabled allowing them to spend money thus boosting the economy.

Costs that were incurred in the past and cannot be changed. Which of the following best describes an opportunity cost. Up to 256 cash back Which of the following best describes the relationship between trade-offs and opportunity costs.

Opportunity cost is best described by which of the following. Cost of developing producing and delivering a product or service. Hendikeps2 and 8 more users found this answer helpful.

Opportunity cost is best described by which of the following. A The cost of an alternative course of action. The dollar value of tuition books room and board and all associated explicit expenses.

Group of answer choices costs that were incurred in the past and cannot be changed The distribution of all products to be sold Expected future costs that differs among alternatives Benefits foregone by not choosing an alternative course of action. A relevant cost is best described by which of the following. It is not a relevant cost in decision making but is part of the traditional accounting records.

Question 1Opportunity cost is best described by which of the followingBenefits foregone by choosing a particular alternative course of actionCosts that were incurred in the past and cannot be changedThe distribution of all products to be soldExpected future costs that differ among alternatives Question 2A relevant cost is best described by which of the followingA. The dollar value of tuition books all associated explicit expenses the interest that may have been earned on that sum and any foregone income from not working over that period. B The cost of losing an order to a competitor.

O The opportunity cost of a decision is equal to the explicit cost in monetary terms. A relevant cost is best described by which of the following. Benefits foregone by choosing a particular alternative course of action.

C The cost involved in seeking new opportunities. Expected future costs that differ among alternatives. Benefits foregone by choosing a particular alternative course of action.

The distribution of all products to be sold. An opportunity cost may best be described as which of the following. Register now or log in to answer.

- Which of the following best describes the concept of opportunity cost. Which of the following best describes the concept of opportunity cost. Benefits foregone by not choosing an alternative course of action.

The distribution of all products to be sold. Expected future costs that differ among alternatives. Which of the following statements best describes opportunity costs.

It is the value of those options that a person has. Opportunity cost of something isare the thing s that we give up to get that particular good or service. It is a relevant cost in decision making but is not part of the traditional accounting records.

Costs that were incurred in the past and cannot be changed. Based on the information provided in this situation which of the following best describes the opportunity cost. B Opportunity costs are the opposite of trade-offs.

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