From the instantaneous response that Natalie experienced, the answer should be C) Sensation.
In business, people often make choices. Opportunity Cost is the value of what must be foregone in order to undertake an activity.
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What is opportunity cost?</h3>
- The economists often refer to this type of cost as the amount or the value of the next highly rated alternative use of one's money or resource.
An example is when a person spend their time and money going to a shop, one cannot spend that time at cooking, and you even did not spend the money on other things.
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Answer:
d. buyers will make purchases from other sellers
Explanation:
In the perfect competition structure producers have no power to change prices, as goods are homogeneous. Thus, since products are the same, if the producer raises the price, consumers will consume with other sellers.
