Multiple Choice
Opportunity cost is BEST defined as
A) a situation in which one individual cannot have an absolute advantage over another individual in the production of all goods.
B) the highest- valued alternative that is forgone when choosing among various alternatives.
C) the amount of money that an individual is willing to pay to purchase a good that means a great deal to that person.
D) the amount of money lost by one individual in an exchange process so that another individual might gain.
Correct Answer:
Verified
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