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____ [38]
2 years ago
15

Opportunity cost occurs because of a producer’s need to

Business
2 answers:
gtnhenbr [62]2 years ago
7 0

Answer:

allocate resources.

Explanation:

Scarcity of resources makes producers make choices on how to use the few available resources. Like other people, producers will want to do many things but are restricted by a lack of resources. Time and money are examples of scarce resources. They have to allocate the available resources among different needs and wants.

Opportunity cost is measured by calculating the value of the next best alternative.

IceJOKER [234]2 years ago
4 0

Answer:

C On Edge Jan 2021

Explanation:

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