Question

A company bought a piece of land. It can use this resource to build a factory or to plant crops. The company can also hold onto the land and try to resell it later for more money. The company decides to build a factory on the land. Any value given up from not choosing the other options is the _____. trade-off opportunity cost consequence

Answer 1

Answer:

Any value given up from not choosing the other options is the opportunity cost

Answer 2

Any value given up from not choosing the other options is the opportunity cost

Step-by-step explanation:

The cost of opportunity is the alternative that you sacrifice when you choose an option.

It represent the benefits that you misses out on when choosing one alternative over another.

In this case, the cost of opportunity is to plant crops.