What you forgo in order to work is the

Question

Quizplus · Accepted Answer

The concept of opportunity cost is defined as the value of the next best alternative forgone. Therefore, the answer is the opportunity cost of working as it explicitly states what is being given up in order to work. Option A is not correct as it refers to the payoff received for working, not what is being given up. Option B is incorrect as labor supply is the willingness and ability of workers to work at a certain wage rate, not what is being given up. Option C is also not the best choice as marginal cost of working refers to the additional cost of working one more hour or day, not what is being given up by choosing to work instead of pursuing other activities.

What You Forgo in Order to Work Is the