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Banking System and Capital Market Questions and Answers for Competitive Exams

Q.

Opportunity cost of production of a commodity is

[A] The cost that the firm could have incurred when a different technique was adopted
[B] The cost that the firm could have incurred under a different method of production
[C] The actual cost incurred
[D] The next best alternative output

Answer & Explanation

Answer: Option [D]

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