The sacrifice of an alternative is called:

Name: The sacrifice of an alternative is called:
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Opportunity cost is the cost of the next best alternative that must be forgone in order to pursue a certain action. It is an important concept in decision-making as it helps in evaluating the true cost of a decision by taking into account both the benefits and the costs of choosing a particular option. Choices A, B, and D do not accurately describe the concept of opportunity cost.

The Sacrifice of an Alternative Is Called