What is the answer to this opportunity cost?

What is the answer to this opportunity cost?
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1 Answer

Answer :

I understand opportunity cost, but I don’t understand this question. Perhaps your professor can word it in an even more enigmatic way.
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Last Answer : what it can earn in some other use.

The addition to total cost by producing an additional unit of output by a firm is called (1) Variable cost (2) Average cost (3) Marginal cost (4) Opportunity cost

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Last Answer : Marginal cost

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Description : Opportunity cost of production of a commodity is (1) the cost that the firm could have incurred when a different technique was adopted (2) the cost that the firm could have incurred under a different method of production (3) the actual cost incurred (4) the next best alternative output

Last Answer : the next best alternative output

An expenditure that has been made and cannot be recovered is called (1) Variable cost (2) Opportunity cost (3) Sunk cost (4) Operational cost

Description : An expenditure that has been made and cannot be recovered is called (1) Variable cost (2) Opportunity cost (3) Sunk cost (4) Operational cost

Last Answer : Sunk cost

The fixed cost on such factors of production which are neither hired nor bought by the firm is called (1) social cost (2) opportunity cost (3) economic cost (4) surcharged cost

Description : The fixed cost on such factors of production which are neither hired nor bought by the firm is called (1) social cost (2) opportunity cost (3) economic cost (4) surcharged cost

Last Answer : social cost

Transfer earning or alternative cost is otherwise known as (1) Variable cost (2) Implicit cost (3) Explicit cost (4) Opportunity cost (economic cost)

Description : Transfer earning or alternative cost is otherwise known as (1) Variable cost (2) Implicit cost (3) Explicit cost (4) Opportunity cost (economic cost) 

Last Answer : Opportunity cost (economic cost)