Kool DJ Services have budget constraints and have to choose from one of the two projects identified as below: Project 1: Renovate the studio, which will have an increase in revenue by $ 120,000

Project 2: Replenish new equipment, which will have an increase in revenue by $100,000Given this choice, the owner of the business Mr. Kool, chose to proceed with Project 1.

What is the opportunity cost?

Answer rating: 100% (QA)

SOLUTION The opportunity cost of choosing Project 1 over Project 2 is the re... View the full answer