The cost of a trade-off is known as the ________ cost of that decision.
A) marginal
B) net
C) opportunity
D) comparative
E) explicit

Question

Quizplus · Accepted Answer

The cost of a trade-off, also known as the opportunity cost, refers to the value of the next best alternative forgone as a result of the decision made. Therefore, the best choice is C, opportunity cost, as it represents the actual cost of making a decision. The other answer options, while related to the concept of cost, do not specifically address the trade-off involved in decision making.

The Cost of a Trade-Off Is Known as the ________