An opportunity cost is:

Question

Quizplus · Accepted Answer

Opportunity cost refers to the potential benefit that is forgone when choosing one option over another. It is the cost of the next best alternative that is foregone. Option A refers to the difference in total costs, which is not necessarily the opportunity cost. Option C refers to a cost that can be saved by not adopting an alternative, which is not relevant to the concept of opportunity cost. Option D refers to a cost that can be postponed to the future, which does not relate to the present trade-offs and opportunity costs.

An Opportunity Cost Is