Saturday, July 2, 2011

The opportunity cost of an activity is

ECONOMICS

Multiple Choice

The opportunity cost of an activity is

a. zero if you choose the activity voluntarily

b. the amount of money spent on the activity

c. the value of the best alternative not chosen

d. the sum of benefits from all of the sacrificed alternatives

e. the difference between the benefits and the costs of that activity

Click here for the SOLUTION

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