Defend or refute the statement. Write ‘yes’ or ‘no’ with reaso – InterviewSolution

InterviewSolution

1.	Defend or refute the statement. Write ‘yes’ or ‘no’ with reason:Opportunity cost refers to explicit cost of production.
Answer» No. Opportunity cost is the value of a factor in its second best alternative use. It is implicit cost, not an explicit cost. Explicit cost is paid-out cost.

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