Asked by Delynn Smitherman on Apr 24, 2024
Opportunity costs are another name for marginal costs.
Opportunity Costs
The financial downside to eschewing the next top alternative in the spectrum of choices.
Marginal Costs
Marginal costs refer to the additional cost incurred from producing one more unit of a good or service.
- Comprehend the fundamental concepts and vocabularies in economics, including marginal cost, opportunity cost, and efficient markets.
Learning Objectives
- Comprehend the fundamental concepts and vocabularies in economics, including marginal cost, opportunity cost, and efficient markets.