In which situations should opportunity costs be considered?
A)Decision making that involves alternative uses
B)Forecasting sales
C)Financial accounting
D)Breakeven analysis

Question

Quizplus · Accepted Answer

Opportunity costs should be considered in decision making that involves alternative uses because it involves choosing between different options and considering the benefits and drawbacks of each choice. Opportunity cost refers to the cost of foregone alternatives, which must be weighed against the benefits of the chosen option.

In Which Situations Should Opportunity Costs Be Considered