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a)what is opportunity cost as used in agricultural economics? b)State two conditions under which opportunity cost is said to be Zero

a)what is opportunity cost as used in agricultural economics?

b)State two conditions under which opportunity cost is said to be Zero

Answers


Martin
a)Opportunity cost refers to the return forgone / the value of the best forgone alternative when the resource factor is taken from its best alternative.

b)Conditions under which opportunity cost is at zero
- When item is free/donation,
- When there is no alternative
- When it is a gift.
marto answered the question on September 25, 2019 at 05:15

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