Economist speak about 'opportunity cost' when a person
Question
Economist speak about 'opportunity cost' when a personOptions
A)
has the opporunity to attain a high degree of cost minimization
B)
has to forego one thing in order to have another
C)
can equate his fixed costs with his variable costs
D)
is able to run his business without much expenditure
E)
has to maximize utility in order to maintain a high standard of living
Related Lesson: Identifying Opportunity Cost | Choice in a World of Scarcity
The correct answer is B.
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