The opportunity cost of producing a good is:
A) The best foregone alternative
B) Its total cost
C) The cost of producing an additional unit
D) All the other potential alternatives

Question

Quizplus · Accepted Answer

The opportunity cost of producing a good is the value of the best alternative that is given up in order to produce that good. It represents the benefits an individual, investor, or business misses out on when choosing one alternative over another.

The Opportunity Cost of Producing a Good Is