The cost of next best alternative is called

Related MCQs

• Cost function relates cost to
• Net addition to total cost is called:
• The variable cost of a firm vary in direct proportion to the
• -------------- cost can never become zero.
• Average cost is the sum of AVC and
• When output is zero, variable cost is --------
• The functional relationship between inputs and outputs is called
• When there are only few sellers of the commodity, the market is called:
• GNP measured in terms of current market prices is called:
• “Supply creates its own demand” is called: