The opportunity cost of an action is
A) objective and will be the same for all individuals.
B) a measure of the undesirable aspects involved in the action.
C) applicable only to choices involving material goods like commodities.
D) the highest valued alternative forgone as the result of choosing an option.

Question

Quizplus · Accepted Answer

Opportunity cost is defined as the value of the next best alternative that is forgone when a choice is made.

The Opportunity Cost of an Action Is