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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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