What is the term that means whatever must be given up to obtain an item?
A) efficiency
B) externality
C) opportunity cost
D) equilibrium

Name: What is the term that means whatever must be given up to obtain an item? A) efficiency B) externality C) opportunity cost D) equilibrium
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Question

Quizplus · Accepted Answer

Opportunity cost refers to the cost of the next best alternative that must be foregone in order to pursue a certain action or decision. It is the cost of what you give up in order to obtain something else.

What Is the Term That Means Whatever Must Be Given