Opportunity cost is
A)the value of your favourite activity.
B)your value of leisure.
C)the money you spend on food,shelter,and clothing.
D)the marginal benefit from an activity.
E)the highest-valued alternative that we give up to get something.

Question

Quizplus · Accepted Answer

Opportunity cost is the highest-valued alternative that we give up to get something. It is a key concept in economics, as individuals, businesses, and society as a whole must make choices about how to allocate resources. By understanding the opportunity cost of different choices, one can make better decisions that align with their priorities and goals.

Opportunity Cost Is