Opportunity cost is:
A)about half of the monetary cost of a product.
B)the dollar payment for a product.
C)the benefit derived from a product.
D)the value of the best alternative forgone in making any choice.

Question

Quizplus · Accepted Answer

Opportunity cost is the value of the best alternative forgone in making any choice. Therefore, in order to make the best choice, it is important to consider the opportunity cost of each option and choose the option that has the lowest opportunity cost, or the highest potential benefit.

Opportunity Cost Is