Another name for opportunity cost is ________ cost.
A) out-of-the pocket
B) irrelevant
C) manageable
D) alternative
E) historical

Question

Quizplus · Accepted Answer

Opportunity cost refers to the potential benefit or value that is foregone when choosing one option over another. This means that the cost of an action is the value of the next best alternative that must be sacrificed in order to pursue that action. Therefore, it is also known as alternative cost.

Another Name for Opportunity Cost Is ________ Cost