An opportunity cost is the
A) lowest possible cost.
B) highest possible cost.
C) monetary price paid for a good or service.
D) cost of a purchase or decision as measured by what is given up.
E) cost of finding the lowest price for a product.

Question

Quizplus · Accepted Answer

Opportunity cost refers to the cost of the alternative that must be given up in order to pursue a certain action or decision. It is the value of the best alternative forgone. Therefore, the correct option is D.

An Opportunity Cost Is the