Question

Because resources are scarce, if society produces more of one commodity, it has to sacrifice some amount of another commodity. The amount sacrificed is A. a normative problem B. the out-of-pocket cost C. the opportunity cost D. the lost profit E. the total factor productivity

Answer 1

The correct answer is letter "C": the opportunity cost.

Step-by-step explanation:

The opportunity cost represents the return of the option chosen compared to the return that could have provided the option forgone. Opportunity cost can also be described as the return of the best next option available that was left behind after choosing another option. It is what was "left on the table".

Answer 2

C. the opportunity cost

Step-by-step explanation:

The opportunity cost -

It refers to the amount of benefit received by the business , investors or an individual , during the process of selecting any alternative , is referred to as the opportunity cost .

These cost can be ignored very easily , in case not seen properly .

The opportunity cost can very well be used to any important and educational decisions for the betterment of the company or firm.

Hence , from the given information of the question,

The correct option is C. the opportunity cost .