chmzy
Answered

Westonci.ca is your go-to source for answers, with a community ready to provide accurate and timely information. Get detailed and accurate answers to your questions from a dedicated community of experts on our Q&A platform. Explore comprehensive solutions to your questions from knowledgeable professionals across various fields on our platform.

opportunity cost refers to:

Sagot :

ashiravildor6
When economists refer to the “opportunity cost” of a resource, they mean the value of the next-highest-valued alternative use of that resource. If, for example, you spend time and money going to a movie, you cannot spend that time at home reading a book, and you can't spend the money on something else.
darlenesanchezz28

Answer:

opportunity costs refer to the value of the next-best alternative use of that resource given limited resources.

Explanation:

We hope our answers were helpful. Return anytime for more information and answers to any other questions you may have. We hope our answers were useful. Return anytime for more information and answers to any other questions you have. Stay curious and keep coming back to Westonci.ca for answers to all your burning questions.