The cost of one thing in terms of the alternative given up is known as
Q. The cost of one thing in terms of the alternative given up is known as:
A. Production cost
B. Physical cost
C. Real cost
D. Opportunity cost
Answer: Opportunity cost
Q. The cost of one thing in terms of the alternative given up is known as:
A. Production cost
B. Physical cost
C. Real cost
D. Opportunity cost
Answer: Opportunity cost