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18 Aug 2020
Which of the following is true about an opportunity cost?
I. Opportunity cost is equal to implicit costs plus explicit costs.
II. Opportunity cost only measures direct monetary costs.
III. Opportunity cost accounts for alternative uses of resources such as time and money.
a) I, II and III.
b) I
c) III only.
d) I and III only.
Which of the following is true about an opportunity cost?
I. Opportunity cost is equal to implicit costs plus explicit costs.
II. Opportunity cost only measures direct monetary costs.
III. Opportunity cost accounts for alternative uses of resources such as time and money.
a) I, II and III.
b) I
c) III only.
d) I and III only.
Vaishnavi KanukurtiLv10
10 Oct 2020
