opportunity cost occurs because of a producer’s need to\nlimit resources.\nprotect resources.\nallocate…

opportunity cost occurs because of a producer’s need to\nlimit resources.\nprotect resources.\nallocate resources.\nspend resources.

opportunity cost occurs because of a producer’s need to\nlimit resources.\nprotect resources.\nallocate resources.\nspend resources.

Answer

Brief Explanations:

Opportunity cost is about the value of the next - best alternative forgone when resources are allocated. Producers face the need to decide how to use their limited resources, which is the concept of resource allocation.

Answer:

C. allocate resources