The opportunity cost of an activity is the value of
A) an alternative forgone.
B) the next-best alternative forgone.
C) the least-best alternative forgone.
D) the difference between the chosen activity and the next-best alternative forgone.
E) the alternative one would have preferred to choosE.

Question

Quizplus · Accepted Answer

Opportunity cost is defined as the value of the next-best alternative that is forgone when a decision is made to pursue a particular action.

The Opportunity Cost of an Activity Is the Value of