Which of the statements below is correct about opportunity costs?
A) Always relevant to decision making.
B) Always the same as variable cost.
C) An important consideration used for decision making.
D) All of these answers are correct.

Question

Quizplus · Accepted Answer

Opportunity cost is an important consideration in decision making because it involves weighing the benefits of one option against the potential benefits of another. It is not always the same as variable cost and not every decision has an opportunity cost, but it is always relevant to decision making.

Which of the Statements Below Is Correct About Opportunity Costs