The value of the best alternative that is forgone is known as:
a. marginal cost.
b. marginal benefit.
c. explicit cost.
d. opportunity cost.
d
Economics
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The gross domestic product of a small country which has a population of 200,000 is $56,000,000. The income per capita of the country is ________
A) $280 B) $200 C) $50 D) $100
Economics
Lizzie's preferences are shown in the figure above. Which of the following combinations of goods does Lizzie prefer the most?
A) 6 comic books and 20 cookies B) 8 comic books and 8 cookies C) 12 comic books and 10 cookies D) 4 comic books and 12 cookies
Economics