Question

Opportunity cost occurs because of a producer’s need to

limit resources.
protect resources.
allocate resources.
spend resources.
Mark this and return

Answer 1

C On Edge Jan 2021

Step-by-step explanation:

Answer 2

allocate resources.

Step-by-step explanation:

Scarcity of resources makes producers make choices on how to use the few available resources. Like other people, producers will want to do many things but are restricted by a lack of resources. Time and money are examples of scarce resources. They have to allocate the available resources among different needs and wants.

Opportunity cost is measured by calculating the value of the next best alternative.