Opportunity cost is defined as the
A) total value of all the alternatives given up.
B) highest-valued alternative given up.
C) cost of not doing all of the things you would like to do.
D) lowest-valued alternative given up.

Question

Quizplus · Accepted Answer

Opportunity cost is the value of the next best alternative that one gives up as a result of making a decision. It's essentially the benefits you could have received by taking the next best alternative action.

Opportunity Cost Is Defined as the