Opportunity cost is defined as the value of:
A) all other alternatives.
B) the least favorite alternative.
C) the dollar amount paid for something.
D) the next best alternative.

Question

Quizplus · Accepted Answer

Opportunity cost is defined as the value of the next best alternative that must be forgone as a result of making a decision. It represents the benefits an individual, investor, or business misses out on when choosing one alternative over another.

Opportunity Cost Is Defined as the Value Of