When it comes to the opportunity costs faced by Santander for merging with BBVA, d. all options are correct including:
The opportunity cost of doing anything refers to any benefit that the company would have gotten if it had chosen another course of action than it one did.
The opportunity cost of merging with BBVA for Santander Bank therefore is:
In conclusion, the opportunity costs of Santander merging with BBVA is either merging with others or with no one at all.
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