Weegy: Assume oligopoly firms are profit maximizers, they do not form a cartel, and they take other firms' production levels as given. Then in equilibrium the output effect b. must balance with the price effect. User: What you give up to obtain an item is called your __________.
A. direct cost
B. opportunity cost
C. true cost
D. explicit cost
Weegy: What you give up to obtain an item is called your opportunity cost. (More)