Opportunity cost of production of a commodity is -

Question

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NA

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the cost that the firm could have Incurred when a different technique was adopted

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the cost that the firm could have incurred under a different method of production

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the actual cost incurred

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the next best alternative output

1.	Opportunity cost of production of a commodity is -
A.	the cost that the firm could have Incurred when a different technique was adopted
B.	the cost that the firm could have incurred under a different method of production
C.	the actual cost incurred
D.	the next best alternative output
Answer» E.

Discussion