What is the opportunity cost of an item?
A)The number of hours needed to earn money to buy it.
B)What you give up to get that item.
C)Always less than the dollar value of the item.
D)Always equal to the dollar value of the item.

Question

Quizplus · Accepted Answer

The opportunity cost of an item is what you give up to obtain that item. This means that you choose between different alternatives, and the opportunity cost is the value of the next best alternative that you could have chosen but didn't.

What Is the Opportunity Cost of an Item