Answered

Dive into the world of knowledge and get your queries resolved at IDNLearn.com. Ask any question and receive comprehensive, well-informed responses from our dedicated team of experts.

Opportunity cost occurs because of a producer's need to
limit resources.
O protect resources.
OOOO
O allocate resources.
spend resources.

Sagot :

GinnyAnsweridn

Final answer:

Opportunity cost in economics is the value of the best alternative forgone when making a choice due to scarcity of resources.


Explanation:

Opportunity cost occurs because of a producer's need to limit resources. When scarce resources are used, people and firms are forced to make choices that have an opportunity cost. For example, the opportunity cost of producing cars is the profit that could be earned from producing SUVs.


Learn more about Opportunity cost in economics here:

https://brainly.com/question/33630246


Thank you for using this platform to share and learn. Don't hesitate to keep asking and answering. We value every contribution you make. For dependable and accurate answers, visit IDNLearn.com. Thanks for visiting, and see you next time for more helpful information.