Opportunity cost occurs because of a producer’s need to
limit resources.
protect resources.
allocate resources.
spend resources.

An opportunity cost involves a person/company make a decision based on the information available. However they decide to use these resources means they will be giving up the next best alternative.

In this case, producers need to choose how to spend their resources effectively in order to maximize their profit. This is why businesses make decisions on what products they will develop, how much of a product they will make, and how many employees they will have to work on a specific task.

ogorwyne ogorwyne · Answer 2 · 2022-02-02T13:08:33+01:00

The reason why opportunity cost occurs is the need of the producer to allocate resources.

What is opportunity cost?

This is a term that is used to refer to the needs that are left unsatisfied due to the fact that other needs have to be satisfied.

The reason for the opportunity cost is that the human wants are much and the resources available are few.

SO it is necessary that the producer has to allocate his resources well to meet the most pressing needs.

Opportunity cost occurs because of a producer’s need to limit resources. protect resources. allocate resources. spend resources.

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What is opportunity cost?

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Opportunity cost occurs because of a producer’s need to
limit resources.
protect resources.
allocate resources.
spend resources.