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Question
The Opportunity Cost arises ______.
Options
When there is just one alternative
When there are two or more alternatives
Either (a) or (b)
None of these
MCQ
Fill in the Blanks
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Solution
The Opportunity Cost arises when there are two or more alternatives.
Explanation:
Opportunity cost arises only when there are two or more alternatives, because only then does choosing one option require giving up the next best alternative.
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