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Question
Opportunity cost is also known as _____.
Opportunity cost is also known as _____.
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Solution
The correct option is A Transfer earning
Transfer earningsare the minimum payment required to keep a
factor of production in its present use. It is the opportunity cost an
individual forgoes when deciding to work in one job rather than the next best
alternative.
Transfer earningsare the minimum payment required to keep a factor of production in its present use. It is the opportunity cost an individual forgoes when deciding to work in one job rather than the next best alternative.
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