Asked by
Efraim Shkarofsky
on Nov 13, 2024
Verified
Opportunity cost is usually
A) a standard cost.
B) a potential benefit.
C) a sunk cost.
D) included as part of cost of goods sold.
Opportunity Cost
The potential benefits an individual, investor, or business misses out on when choosing one alternative over another.
- Evaluate the opportunity costs entailed in choosing between internal production or external procurement.
Verified Answer
TR
Learning Objectives
- Evaluate the opportunity costs entailed in choosing between internal production or external procurement.
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