0
Why is the opportunity cost of decision always less than the cost of the chosen good or service?
Wiki User
∙ 9y agoWant this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
How opportunity cost is measured?
how is opportunity cost measured {Finding the value of the best options that is not chosen.}
An opportunity cost is defined as?
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.
What do economists the next best alternative that had to be given up for the one chosen?
opportunity cost
How is opportunity cost calculated?
finding the value of the best choice that is not chosen
How is an opportunity cost calculated?
Finding the value of the best option that is not chosen
How opportunity cost is measured?
how is opportunity cost measured {Finding the value of the best options that is not chosen.}
An opportunity cost is defined as?
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.
What do economists the next best alternative that had to be given up for the one chosen?
opportunity cost
What are the four steps in a rational decision making model?
1. identify the problem or opportunity. 2. generate alternative solutions 3. evaluate alternatives and select a solution. 4. implement and evaluate the solution chosen.
A group of people chosen to make decision?
group of people chosen to make decisions in court
How is opportunity cost calculated?
finding the value of the best choice that is not chosen
Which caculates opportunity cost?
Finding the value of the best option that is not chosen.
How is an opportunity cost calculated?
Finding the value of the best option that is not chosen
Opportunity cost is calculated by what?
Finding the value of the best option that is not chosen. apex
This is the value lost when one alternative is chosen over another?
Opportunity Cost
What is the difference between a chosen investment and one that is passed up?
opportunity cost
What calculates opportunity costs?
Finding the value of the best option that is not chosen. apex
