The opportunity cost of something is:
A)greater during periods of rising prices.
B)equal to the money cost.
C)less during periods of falling prices.
D)what is given up to acquire it.

Question

Quizplus · Accepted Answer

Opportunity cost is the value of the next best alternative that must be forgone to undertake a certain action. It is the cost of the forgone alternative, and hence, it is what is given up to acquire something. Therefore, option D is the correct answer. Options A, B, and C are incorrect as they are not related to the definition of opportunity cost.

The Opportunity Cost of Something Is