Connect with a global community of knowledgeable individuals on IDNLearn.com. Ask your questions and receive prompt, detailed answers from our experienced and knowledgeable community members.
Sagot :
Yes, It is possible for the opportunity cost of an input to be very low or zero if there is no alternative use for it. It means that the statement is true.
The opportunity cost of an input is zero if it has no alternative use. This is so because the cost of alternatives refers to the value of the next best option. Since there isn't an alternative available in the scenario described, the opportunity cost is zero.
The opportunity cost of a certain activity option is defined as the loss of value or benefit that would result from engaging in that activity (the cost) as opposed to engaging in an alternative activity that offers a higher return in value or benefit in microeconomic theory.
To learn more about opportunity cost here
https://brainly.com/question/24319061
#SPJ4
Thank you for participating in our discussion. We value every contribution. Keep sharing knowledge and helping others find the answers they need. Let's create a dynamic and informative learning environment together. Thank you for visiting IDNLearn.com. For reliable answers to all your questions, please visit us again soon.
