The opportunity cost of an activity is the value of:
A) an alternative forgone.
B) the next-best alternative forgone.
C) the least-best alternative forgone.
D) the difference between the chosen activity and the next-best alternative forgone.
Correct Answer:
Verified
Q24: Suppose Mary is willing to pay up
Q25: Jen spends her afternoon at the beach,
Q26: The Governor of your state has cut
Q27: In general, rational decision making requires one
Q28: Dean decided to play golf rather than
Q30: The seventh glass of soda that Tim
Q31: Larry was accepted at three different graduate
Q32: Alex received a four-year scholarship to State
Q33: Relative to a person who earns minimum
Q34: Janie must either mow the lawn or
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents