The opportunity cost principle states that the true cost of something is the least desired alternative you have to give up to get it. economic surplus you receive from getting it. economic surplus you give up to get it. next best alternative you have to give up to get it.

The opportunity cost principle states that the true cost of something is the least desired alternative you have to give up to get it. economic surplus you receive from getting it. economic surplus you give up to get it. next best alternative you have to give up to get it.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The opportunity cost principle states that the true cost of something is the
least desired alternative you have to give up to get it.
economic surplus you receive from getting it.
economic surplus you give up to get it.
next best alternative you have to give up to get it.

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