Opportunity costs are
A)not used for decision making.
B)the same as variable costs.
C)the same as historical costs.
D)relevant to decision making.

Question

Quizplus · Accepted Answer

Opportunity costs are the benefits foregone by choosing one option over another, and they are important in decision making as they help in weighing the benefits and drawbacks of different options to make the best choice. Therefore, option D is the correct answer. Options A, B, and C are incorrect as they do not accurately describe opportunity costs.

Opportunity Costs Are