The opportunity cost of an activity:
A)depends on an individual's subjective values and opinions.
B)is the same for everyone.
C)must be calculated and known before undertaking that activity.
D)is irrelevant to decision making.
E)is not related to time.

Question

The opportunity cost of an activity:​
A)depends on an individual's subjective values and opinions.
B)is the same for everyone.
C)must be calculated and known before undertaking that activity.
D)is irrelevant to decision making.
E)is not related to time.

Quizplus · Accepted Answer

The opportunity cost of an activity is subjective and varies from person to person based on their values, preferences, and the alternatives they are considering. It reflects the value of the best alternative forgone when a choice is made.

The Opportunity Cost of an Activity:​

The Opportunity Cost of an Activity: