Economics WAEC

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
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 theMr. 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

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

Correct Answer:

Option C – opportunity cost

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5 years ago

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