The opportunity cost of something you decide to get is
A) all the possible alternatives that you give up to get it.
B) the highest valued alternative you give up to get it.
C) the value of the item minus the cost you paid for it.
D) the amount of money you pay to get it.

Question

Quizplus · Accepted Answer

The opportunity cost of a decision is the value of the next best alternative that you forego by making that decision. This means it's the highest valued alternative given up to pursue a certain action or decision.

The Opportunity Cost of Something You Decide to Get Is