Which of the following is NOT true of opportunity cost?
A) Opportunity costs are subjective because they depend upon how the decision-maker values his or her options.
B) Opportunity costs are only the monetary costs of lost options.
C) Opportunity costs are the highest-valued alternative sacrificed in order to choose an option.
D) Only the decision-maker can determine his or her opportunity costs for any particular action.

Question

Quizplus · Accepted Answer

Opportunity costs are not limited to monetary costs; they include any value of the next best alternative foregone, which can be non-monetary as well.

Which of the Following Is NOT True of Opportunity Cost