Opportunity cost is: A. the benefit derived from a product. B. about half of the monetary cost of a product. C. the dollar payment for a product. D. the value of the best alternative forgone in making any choice.

Question

Social Studies

Haleigh Simmons

18 April, 07:42

Opportunity cost is: A. the benefit derived from a product. B. about half of the monetary cost of a product. C. the dollar payment for a product. D. the value of the best alternative forgone in making any choice.

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option D

Explanation:

the correct answer is option D

Opportunity cost is the value of the best alternative which is declined in making any choice.

The value, benefit or profit, given up to achieve something else is known as opportunity cost.

Opportunity cost is the profit lost by not choosing the best alternative due to some reason.