Question

What represents the value of the second-best alternative that a person gives up when making a choice?

A. marginal spending
B. marginal benefit
C. opportunity cost
D
marginal cost

Answer 1

Answer should be letter c

Answer 2

c) opportunity cost

Step-by-step explanation:

it means the value of the next highest valued alternative use of that resource. An example is, you spend money and time to go and watch a movie , you can never spend that time you and money at home reading a book and you cannot spend the money on something else