You have narrowed down your Friday night plans to either going bowling or playing billiards. If you choose to go bowling, then for you playing billiards is the ________ of going bowling.

Question

Quizplus · Accepted Answer

The opportunity cost of an action is the value of the next best alternative that you forego when making a choice. In this case, if you choose to go bowling, the opportunity cost is playing billiards, because that is the next best alternative you give up by making that choice.

You Have Narrowed Down Your Friday Night Plans to Either