The difference between the money cost and the r... - WAEC Economics 2011 Question
The difference between the money cost and the real cost of any item is that
A
real cost is the laternative forgone while the money cost is the actual amount paid for buying the item
B
the real cost is the opportunity cost, while the money cost is the marginal cost
C
money cost is the opportunity, cost while the real cost is the actual cost in monetary terms
D
money cost is always greater than the real cost
correct option: a
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