Microeconomics: Principles, Applications, & Tools, 7e (O ...

2.1 The Principle of Opportunity Cost. 1) The opportunity cost of something is: A) the cost of the labor used to produce it. B) what you sacrifice to get it. C) the price charged for it. D) the search cost required to find it. Answer: B. Diff: 1. Topic: The Principle of Opportunity Cost. Skill: Definition. 2) The principle of opportunity cost: ................
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