What would you like to do?
Who Invented Opportunity Cost?
What would you like to do?
Answered
In Economics
Can opportunity cost be zero?
Opportunity cost can be zero if there are no scarcity in goods and services and resources used to produce such commodities that can lead consumers to make a choice to fulfill …their wants (MORE)
What would you like to do?
Answered
In Economics
What was its opportunity cost?
The cost of passing up the next best choice when making a decision. For example, if an asset such as capital is used for one purpose, the opportunity cost is the value of the …next best purpose the asset could have been used for. Opportunity cost analysis is an important part of a company's decision-making processes, but is not treated as an actual cost in any financial statement. (MORE)
What would you like to do?
Answered Most Recently
In Economics
Is opportunity cost a relevant cost?
Yes, opportunity cost is a relevant cost because it can be used in something more productive.
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What would you like to do?
Answered
In Economics
How does cost differ from opportunity cost?
"cost" represents the money paid for something and "opportunity cost" is the value of the thing given up when one chooses something else.
What would you like to do?
Answered
What are the examples of opportunity cost in a business?
An opportunity cost means that, in order to do one thing, you must give up something else (those something else's are the opportunity costs). An example of an opportunity cos…t would be the large amount of money that would need to be invested in order for a company to make itself more environmentally-friendly (like installing solar panels). (MORE)
What would you like to do?
Answered
What are opportunity costs?
Opportunity costs are losses that occur when one alternative is chosen over another. Opportunity costs are also known as trade offs.

