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Q: The value of the next best alternative that is given up to obtain a preferred item is called: (Points: 2) opportunity cost trade off substitution effect
A: The value of the next best alternative that is given up to obtain a preferred item is called opportunity cost.
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User: The value of the next best alternative that is given up to obtain a preferred item is called: (Points: 2) opportunity cost trade off substitution effect

Weegy: hm?
Expert answered|xramen135@aol.com|Points 0|

Question
Asked 6/15/2011 10:45:36 PM
Updated 4/14/2016 1:41:26 PM
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This conversation has been flagged as incorrect.
Flagged by emdjay23 [4/14/2016 1:41:26 PM]
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The value of the next best alternative that is given up to obtain a preferred item is called opportunity cost.
Added 4/14/2016 1:41:24 PM
This answer has been confirmed as correct and helpful.
Confirmed by yumdrea [4/14/2016 3:20:20 PM]
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