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Sagot :
Answer:
C) any other good or service that cannot be provided right now due to resources used for the new performing arts center
Explanation:
Here is the full question :
our school decides to build a new performing arts center. What is the opportunity cost of the performing arts center?
(A) the money used in construction of the performing arts center
(B) the cost of building the performing arts center now rather than waiting until next year
(C) any other good or service that cannot be provided right now due to resources used for the new performing arts center
(D) cannot be determined without knowing what the next best option was for using the resources that went to the performing arts center
(E) none of the above
Opportunity cost is the cost of the next best option forgone when one option is chosen over other alternatives.
the funds used in building the new performing arts center would not be available for other activities. these activities forgone is the opportunity cost.
the money used in construction of the performing arts center is the real cost
Only the real cost is used in calculating accounting cost. While, opportunity cost and real costs are used in calculating economic cost
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