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    Question

    What does opportunity cost in farming refer

    to?
    A The accounting cost Correct Answer Incorrect Answer
    B The economic cost Correct Answer Incorrect Answer
    C The value of the best alternative forgone Correct Answer Incorrect Answer
    D The fixed costs incurred Correct Answer Incorrect Answer

    Solution

    Opportunity cost represents the value of the next best alternative foregone when choosing a particular option in farming.

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