The opportunity cost of an alternative
A) includes only the direct monetary cost of whatever is chosen.
B) is subjective and can only be determined by the person who chooses the alternative.
C) is the value of all alternatives that must be forgone as the result of the choice.
D) is relevant only in cases where the choice involves alternatives that would be considered undesirable.

Question

Quizplus · Accepted Answer

Opportunity cost is subjective because it depends on the individual's valuation of the foregone alternatives, which can vary from person to person.

The Opportunity Cost of an Alternative