Answered

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Opportunity cost occurs because of a producer's need to
limit resources.
O protect resources.
OOOO
O allocate resources.
spend resources.

Sagot :

GinnyAnswer

Final answer:

Opportunity cost in economics is the value of the best alternative forgone when making a choice due to scarcity of resources.


Explanation:

Opportunity cost occurs because of a producer's need to limit resources. When scarce resources are used, people and firms are forced to make choices that have an opportunity cost. For example, the opportunity cost of producing cars is the profit that could be earned from producing SUVs.


Learn more about Opportunity cost in economics here:

https://brainly.com/question/33630246


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