Opportunity cost usually a. cannot be measured b. applies to ...

[Destiiny22]

Opportunity cost usually
 a. cannot be measured
  b. applies to labor but not to capital
  c. is involved in calculating economic profit
  d. is greater than the cash payment made to a resource
  e. is less than the cash payment made to a resource

Question 2

The difference between a firm's total revenue and what must be paid to attract resources from their best alternative use is called
 a. total revenue
  b. utility
  c. economic profit
  d. cost
  e. production efficiency

[Sarahjh]

Answer to Question 1

C

Answer to Question 2

C

[Destiiny22]

Thanks for the timely response, appreciate it

[ryansturges]

Wow, this really help