There is no opportunity cost when:
A)other products are considered.
B)there are other uses for the product.
C)there are other alternatives.
D)there are other uses for a product.
E)there is no alternative use of the equipment or space.

Question

Quizplus · Accepted Answer

Opportunity cost refers to the value of the next best alternative forgone. If there is no alternative use of the equipment or space, then there is no opportunity cost. Therefore, option E is the correct choice. Other options (A, B, C, D) all involve some form of alternative or choice, so they do involve opportunity cost.

There Is No Opportunity Cost When