The most desired goods and services that are foregone in order to obtain something else are the
A)Average total cost.
B)Variable cost.
C)Marginal cost.
D)Opportunity cost.

Question

Quizplus · Accepted Answer

Opportunity cost refers to the value of the next best choice that is given up in order to pursue a certain action. It is the most desired goods and services that are foregone in order to obtain something else. Therefore, option D is the correct answer. Options A, B, and C refer to various costs that are incurred in the production of goods and services, but do not relate to the concept of opportunity cost.

The Most Desired Goods and Services That Are Foregone in Order