Question

question 10
opportunity cost means the
○ accounting cost minus the marginal cost.
○ monetary costs of an activity.
○ highest - valued alternative forgone.
○ accounting cost minus the marginal benefit.

Explanation:

Opportunity cost is defined as the value of the next - best alternative forgone when a decision is made. It represents the highest - valued alternative that must be given up to pursue a certain action.

Answer:

C. highest - valued alternative forgone