How do you do this journal entry for accounting? - Now record the estimated cost of the returns. Estimated sales returns of $1,040, with cost of $333.

greater than; less than

Explanation:

Before the development of new fracking technology, the opportunity cost of producing oil in the United States was greater than the world market price. After the development of new fracking technology, the opportunity cost of producing oil in the United States is less than the world market price.