AP Intermediate Zoology (BIEAP) Practice Questions - Board Of Intermediate Education Andhra Pradesh Intermediate Zoology (Zoology I & II) Exam

Opportunity cost is best described as which of the following?

The value of the next-best alternative foregone when a choice is made The total money spent on all alternatives considered The accounting cost of materials only The sum of fixed and variable costs of a firm

Correct Answer:

The value of the next-best alternative foregone when a choice is made

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