Opportunity cost is a term which describes.
Take Free Practice Test On 2026 JAMB UTME, Post UTME, WAEC SSCE, GCE, NECO SSCE
- A Initial cost of setting up a business venture
- B A study of the ways man devices to satisfy his unlimited wants from limited resources
- C Cost of one product in terms of forgone production of others
- D The mandatory equivalent of the utility of a commodity
- E Cost related to an optimum level of
production
Correct Answer: Option C
Explanation:
Share question on: