From course:
(Practice similar questions for free)
Managerial Economics PRE-MASTER NNBS 1
» Start this Course(Practice similar questions for free)
Question:
Opportunity cost
Author: Sam van de WaterAnswer:
The opportunity costs of using a resource for a given purpose is its value in its best alternative use. the opportunity cost of using four hours to play golf is the value of using the four hours in Larry's next best alternative use.
0 / 5 Â (0 ratings)
1 answer(s) in total
Author
Sam van de Water