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The opportunity cost of an activity is:
 
A) the sum of benefits from all of the sacrificed alternatives
B) the amount of money spent on the activity
C) zero if you choose the activity voluntarily
D) the value of the best alternative not chosen
E) the difference between the benefits and the costs of that activity

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Margaux Elysse C. Siason
Margaux Elysse C. SiasonLv6
8 Oct 2020

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Related questions

What factors into the opportunity cost for a decision?

  • Benefits from the best-foregone alternative
  • The actual financial cost of the decision
  • Time spent due to the decision
  • The sum of all benefits from all foregone alternatives
  • The difference between the benefits of the first and second-best choices

Opportunity cost

  1. Represents the best alternative sacrificed for a chosen alternative.
  2. Has no relationship to the various alternatives that must be given up when a choice is made in the context of scarcity.
  3. Represents the worst alternative sacrificed for a chosen alternative
  4. Represents all alternatives not chosen.

 

 

Opportunity cost :

a. represents the best alternative sacrificed for a chosen alternative.

b. has no relationship to the various alternatives that must be given up when a choice is made in the context of scarcity.

c. represents the worst alternative sacrificed for a chosen alternative.

d. represents all alternatives not chosen.

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