TRUE
A price that may be avoided through choosing one opportunity over some other isn't applicable for choice purposes. An avoidable fee is a cost that may be absolutely eliminated irrespective of whether one chooses one opportunity or another in a selection. a set value can not be a differential value.
The possibility fee is the forgone gain that might have been derived from an alternative now not selected. to properly evaluate opportunity prices, the prices and blessings of each option to be had have to be considered and weighed towards the others.
The real cost of any buy isn't the actual greenback value. rather, it is the opportunity fee—the price of the funding you did not make because you used your funds to buy something else.
The private fee is any price that a person or firm pays in order to buy or produce goods and services. This includes the fee of labor, cloth, equipment, and whatever else that the person of the firm pays for. The private cost does not keep in mind any bad outcomes or harm brought on as a result of the production.
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