![Limitations of the concept of opportunity cost Limitations of the concept of opportunity cost](https://digitalteachers.co.ug/wp-content/uploads/2022/09/Bbosa-Science.png)
Limitations of the concept of opportunity cost
- Some factors of production are specific in that they cannot be put to alternative uses.
- It is not applicable where costs and benefits cannot be measure in monetary terms.
- The concept assumes perfect market which is not applicable in the real world.
- It is not applicable in situations where factor immobility exists.
CATEGORIES Economics
TAGS Dr. Bbosa Science