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