Opportunity cost is best defined as
A)how much money and time it takes to consume something.
B)the sunk cost of any decision.
C)the total of all other alternatives that are forgone in making a choice.
D)how much money is paid for something.
E)the value of the highest-valued alternative that is forgone in making a choice.

Question

Quizplus · Accepted Answer

Opportunity cost is the value of the next best alternative that is not chosen, representing the benefits that could have been gained by taking that alternative.

Opportunity Cost Is Best Defined as