International Management: What you give up in order to produce something

ex. Company Daili can produce 5 cakes or 10 muffins in 1 hour. If the choice is to produce 5 cakes than the opportunity cost is 10 muffins and vice versa

Question

What you give up in order to produce something

ex. Company Daili can produce 5 cakes or 10 muffins in 1 hour. If the choice is to produce 5 cakes than the opportunity cost is 10  muffins and vice versa

David Ursu · Accepted Answer

what does opportunity cost mean?

International Management

What you give up in order to produce something ex. Company Daili can produce 5 cakes or 10 muffins in 1 hour. If the choice is to produce 5 cakes than the opportunity cost is 10 muffins and vice versa

What does opportunity cost mean?

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