Question

Which phrase best describes an opportunity cost?

O A. The amount of money a business has to make a product
B. The price of a product determined by supply and demand
C. The value of what is lost when picking one choice over another
D. The money a business makes after paying for its expenses

Answer 1

C. The value of what is lost when picking one choice over another

Step-by-step explanation:

The key to opportunity cost is literally the words. The opportunity cost is the (cost) or price you have to pay for taking one opportunity over another one.

.....Opportunity cost is the value of the next best thing you give up whenever you make a decision. It is "the loss of potential gain from other alternatives when one alternative is chosen".

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