Post Utme Lautech 2020 Economics Question 35

Practice objective / multiple choice question 35 from the 2020 Post Utme Lautech Economics examination.

Post Utme Lautech 2020 Economics Objective / Multiple Choice
Question 35 POST_UTME_LAUTECH • 2020 • ECONOMICS • objective
Post Utme Lautech 2020 Economics Question 35 diagram

A firm's opportunity \cost is the value of the next best alternative that is given up when a choice is made. What is an example of a firm's opportunity \cost?

Answer Options

Correct Answer A. The value of the next best alternative that is given up when a choice is made.
B. The value of the product that is produced.
C. The value of the input that is used.
D. The value of the output that is produced.
Correct Answer
A
Correct Option:
The value of the next best alternative that is given up when a choice is made.

About This Question

This is Post Utme Lautech 2020 Economics Question 35. It is one of the objective questions from the 2020 Post Utme Lautech Economics examination.

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