Opportunity cost is the full value of the next best alternative.

Name: Opportunity cost is the full value of the next best alternative.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Opportunity cost is the value of the next best alternative that a person sacrifices when making a choice. It is often expressed in terms of the benefits that could have been gained from choosing the next best alternative but were not gained because of the chosen option. Therefore, the opportunity cost is the full value of the next best alternative.

Opportunity Cost Is the Full Value of the Next Best