Explore BrainMass

Explore BrainMass

    Business help: Opportunity cost

    Not what you're looking for? Search our solutions OR ask your own Custom question.

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    Which one of the following is an example of an opportunity cost

    1. Revenue lost from sale of cakes by deciding to sell only cookies
    2. Wages paid to construction workers
    3. Materials used to assemble computers
    4. Ordering costs related to a customer's special order of guitar strings
    5. Rent paid for the use of a factory building.

    © BrainMass Inc. brainmass.com March 4, 2021, 8:26 pm ad1c9bdddf
    https://brainmass.com/business/finance/business-help-opportunity-cost-167717

    Solution Preview

    Opportunity cost is the price of the chosen good, relative to the next best alternative. The opportunity cost or alternative costs are the returns from the second best use of the organization's resources or here in this case the individual's ...

    Solution Summary

    228 words with a reference explains which of the given options is an example of opportunity cost.

    $2.49

    ADVERTISEMENT