What is the opportunity cost of an action equal to?
A) the highest valued opportunity that must be sacrificed in order to take the action
B) the value of all of the alternative actions that could have been taken
C) the total time spent by all parties in carrying out the action
D) the monetary payment the action required

Question

Quizplus · Accepted Answer

The opportunity cost of an action is equal to the highest valued alternative that must be given up to engage in that action.

What Is the Opportunity Cost of an Action Equal To