Banking System and Capital Market Questions and Answers for Competitive Exams

Sports GK Questions and Answers 2024 (Latest Updated)

Awards & Honours GK Questions 2024 (Latest Updated)

Question

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]

Advertisement
Article and Schedule Quiz Start Test!
DOWNLOAD CURRENT AFFAIRS PDF FROM APP

Random GK Questions

Read More Economics Solved Questions

Assam Direct Recruitment Test Series

Teacher Eligibility Test

Assam Direct Recruitment Test Series