How is the opportunity cost of an activity best measured?

Question

Quizplus · Accepted Answer

The opportunity cost of an activity is best measured by the value expected from the best alternative that is forgone. This takes into account not only the monetary costs but also any other benefits or opportunities that were sacrificed in order to engage in the chosen activity. By measuring the value of the best alternative, individuals and businesses can make more informed decisions about how to allocate their resources and maximize their overall gains.

How Is the Opportunity Cost of an Activity Best Measured