Which of the following represents an opportunity cost?
A) Increases in medical technology.
B) Reduction in fees for Medicare patients.
C) Additional spending on public health initiatives.
D) Increased enrollments at medical schools.
E) Forgone geriatric care to provide additional maternity services.

Question

Quizplus · Accepted Answer

Opportunity cost refers to the benefits that are foregone when one course of action is taken over another. In this case, forgoing geriatric care to provide additional maternity services represents an opportunity cost because the resources that could have been allocated to geriatric care are instead being used for maternity services.

Which of the Following Represents an Opportunity Cost