When making a decision,the important costs to identify and consider are the __________ costs and the __________ costs.
A) opportunity;marginal
B) opportunity;variable
C) sunk;marginal
D) marginal;average
E) marginal;fixed

Question

Quizplus · Accepted Answer

Opportunity costs are the benefits that are given up when one choice is made over another. Marginal costs are the additional costs incurred when one more unit of a good or service is produced.

When Making a Decision,the Important Costs to Identify and Consider