Opportunity cost is best defined as
A) the sum of the dollar values of all alternatives given up when choices are made.
B) the cost of producing the purchased goods.
C) the next highest valued alternative when a choice is made.
D) the dollar price of the purchased item.

Question

Quizplus · Accepted Answer

Opportunity cost is defined as the next highest valued alternative that is given up when a choice is made.

Opportunity Cost Is Best Defined as