Mr. Idowu needs television and a refrigerator. Each cost N500.00, the exact amount he has. If Mr. Idowu buys the television, the refrigerator would be regarded as the

By: |Published on: Aug 5|Categories: Economics WAEC| 0 comments

A. marginal cost
B. inferior item
C. opportunity cost
D. supplementary item
E. prime cost

Correct Answer:

Option C – opportunity cost

Users Also Read These:

SEE ALSO  Specialization often improves economic performance because it?

Copyright warnings! Do not copy.