Which of the following concepts is most similar to the concept of "transfer earnings"?
A)factor price differentials
B)factor payments
C)opportunity cost
D)equal net advantage
E)factor mobility

Question

Quizplus · Accepted Answer

Transfer earnings refer to the minimum payment required to keep a factor of production in its current use, which is similar to the concept of opportunity cost, as it represents the earnings foregone from the next best alternative.

Which of the Following Concepts Is Most Similar to the Concept