Question: A decision - making concept, described as the contribution to income that is forgone by not using a limited resource for its best alternative use,

A decision-making concept, described as "the contribution to income that is forgone by not using a limited resource for its best alternative use," is called
A. Potential cost.
B. Incremental cost.
C. Marginal cost.
A decision - making concept, described as "the

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!