alternative cost

noun

Definition of alternative cost

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

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First Known Use of alternative cost

1906, in the meaning defined at sense 1

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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 8 Jul. 2020.

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