Opportunity cost is an economic concept which describes the?
ECONOMICS
JAMB 1994
Opportunity cost is an economic concept which describes the?
- A. monetary equivalent of the utility of a commodity
- B. amount of time or money invested on a commodity
- C. sacrifice made for the satisfaction of a want
- D. cost of retaining an optimum level of production of commodities
Correct Answer: C. sacrifice made for the satisfaction of a want
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