Answered: The cost of any activity measured in…

The cost of any activity measured in terms of the vaule of the next best alternative forgone is called? a. sunk cost b. opportunity cost c. Attained cost d. fixed cost

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

The cost of any activity measured in terms of the vaule of the next best alternative forgone is called?

a. sunk cost

b. opportunity cost

c. Attained cost

d. fixed cost

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