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Google Translate New Tab Search tps://blackboard.smccme.edu/webapps/assessment/take/launch ( 110% O profits are always very high and persistent. O profit opportunities are eliminated almost instantaneously QUESTION 3 Opportunity cost is the additional cost incurred from the consumption of one more unit of output. O the cost of production which cannot be recaptured O the total cost incurred from the consumption of additional output. O the cost involved when choosing between alternatives QUESTION 4 An efficient market is a market

Explanation / Answer

Option D.

Opportunity cost is the cost of the next best alternative available to the individual. Thus, opportunity cost is the cost involved when choosing between alternatives.

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