The opportunity cost of a purchase or a decision is:
A) the lowest possible cost to make that purchase or decision.
B) the highest cost that must be paid to make that purchase or decision.
C) the actual amount paid to make that purchase or decision.
D) what had to be given up to make that purchase or decision.

Question

Quizplus · Accepted Answer

The opportunity cost of a purchase or a decision is what had to be given up to make that purchase or decision. It represents the benefits an individual, investor, or business misses out on when choosing one alternative over another.

The Opportunity Cost of a Purchase or a Decision Is