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प्रश्न
What is opportunity cost?
What do you understand by opportunity cost?
What is meant by opportunity cost?
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उत्तर
Opportunity cost, or alternative cost, is the benefit of the second-best use of a firm’s resources that is foregone to reap the return from the best use of those resources.
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संबंधित प्रश्न
Write a short note on direct costs.
Overheads are often related to accounting concepts such as fixed cost and ______ cost.
Variable cost is a cost that ______.
Which cost decreases with increase in the volume of output?
Explain the following:
Sunk cost
Distinguish between direct costs and indirect costs.
Distinguish between shut down cost and sunk cost.
What is meant by variable cost?
Explain with an example the meaning of fixed costs.
Explain with an example the meaning of variable costs.
