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Author Question: What is a seller's opportunity cost?[br][br][b][color=green]Question 2[/color][/b][br][br]Economies ... (Read 94 times)

dakota nelson

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on: Jun 30, 2018
What is a seller's opportunity cost?

Question 2

Economies and diseconomies of scale are the reasons why short-run average total cost decreases and then increases.
 a. True
  b. False
  Indicate whether the statement is true or false


randomguy133

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Reply #1 on: Jun 30, 2018
Answer to Question 1

A seller's opportunity cost is the dollar value of the best alternative he forgoes when he parts with the object. It is the lowest dollar value that the seller will accept for parting with his good.

Answer to Question 2

False


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