Which of the following costs best describes the cost of foregone income that results from making an economic decision to use funds to purchase a piece of equipment?
A . Cost of Capital
B . Fixed Cost
C . Marginal Cost
D . Opportunity Cost
Answer: D
Which of the following costs best describes the cost of foregone income that results from making an economic decision to use funds to purchase a piece of equipment?
A . Cost of Capital
B . Fixed Cost
C . Marginal Cost
D . Opportunity Cost
Answer: D