An opportunity cost is the: a. monetary price paid for a good or service. b. cost of finding the lowest price for a product. C. highest possible cost. d. lowest possible cost. е. cost of a purchase or decision as measured by what is given up.

An opportunity cost is the: a. monetary price paid for a good or service. b. cost of finding the lowest price for a product. C. highest possible cost. d. lowest possible cost. е. cost of a purchase or decision as measured by what is given up.

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter3: Benefits, Costs, And Decisions

Section: Chapter Questions

Problem 3.2IP: Concert Opportunity Cost 2 You were able to purchase two tickets to an upcoming concert for $100...

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An opportunity cost is the:
monetary price paid for a good or service.
a.
b.
cost of finding the lowest price for a product.
C.
highest possible cost.
d.
lowest possible cost.
е.
cost of a purchase or decision as measured by what is given up.

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