The term opportunity loss is most closely related to O minimin payoff O All of the...

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The term opportunity loss is most closely related to O minimin payoff O All of the rest EOL O maximin payoff Omaximax regret

business economics

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Answer 1

Answer #1

Here, option C is correct that is EOL.

Because, EOL is defined as expected oppurtunity loss.

And the opportunity cost is defined as the cost incurred by the individual or producer when at the time of decision making the best alternative forgone in order to achieve any other bundle.

Hence, option C.

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Answer 2

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