alternative cost

noun

1
: the determination of cost and value by comparison with the best alternative product rather than by totaling factor inputs
2

Word History

First Known Use

1906, in the meaning defined at sense 1

Time Traveler
The first known use of alternative cost was in 1906

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Cite this Entry

“Alternative cost.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/alternative%20cost. Accessed 18 Jul. 2024.

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