term describes this P50,000 of lost rental revenue?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The management of a high-rise office building uses 3,000 square feet of space in the building for its own administrative functions. This space could be rented for P50,000. What economic term describes this P50,000 of lost rental revenue?
Average cost
Out of pocket cost
Sunk cost
Opportunity cost
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