anonymous
  • anonymous
The cost of an economic decision that is the most attractive option that is given up because one choice was made over another. What is this called? A. opportunity cost B. trade-off C. limited resource D. none of the above I believe the answer is A
Economics - Financial Markets
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schrodinger
  • schrodinger
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anonymous
  • anonymous
http://www.economicswisconsin.org/guide/glossary.htm
anonymous
  • anonymous
yes so it nis A correct?
anonymous
  • anonymous
In microeconomic theory, the opportunity cost of a choice is the value of the best alternative forgone, in a situation in which a choice needs to be made between several mutually exclusive alternatives given limited resources. Assuming the best choice is made, it is the "cost" incurred by not enjoying the benefit that would be had by taking the second best choice available! http://en.wikipedia.org/wiki/Opportunity_cost

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anonymous
  • anonymous
A trade-off (or tradeoff) is a situation that involves losing one quality or aspect of something in return for gaining another quality or aspect. It often implies a decision to be made with full comprehension of both the upside and downside of a particular choice; the term is also used in an evolutionary context, in which case the selection process acts as the "decision-maker".http://en.wikipedia.org/wiki/Trade-off
anonymous
  • anonymous
It's not ''Limited resource''
anonymous
  • anonymous
i think its A
anonymous
  • anonymous
is my answer correct or not?
anonymous
  • anonymous
Yep! I would say so! @bookworm00981 What do you say ?

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