Mr Idowu needs a television and a refrigerator. Each cost N500.00, the exact amount he...
ECONOMICS
WAEC 1994
Mr Idowu needs a television and a refrigerator. Each cost N500.00, the exact amount he has . If Mr. Idowu buys the television , the refrigerator would be regarded as the
- A. marginal cost
- B. inferior item
- C. opportunity cost
- D. supplementary item
Correct Answer: C. opportunity cost
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