What is opportunity cost the cost of the opportunity you choose The next best alternative you did not select when making a decision The list of trade -offs or alternatives which you consider when making a decision

Question

What is opportunity cost the cost of the opportunity you choose The next best alternative you did not select when making a decision The list of trade -offs or alternatives which you consider when making a decision

Answer 1

### B. The next best alternative you did not select when making a decision

Answer 2

## Step1: Define Opportunity Cost### Opportunity cost is the value of the next best alternative that you forego when making a decision. It represents the benefits you could have received by taking an alternative action.

Question

What is opportunity cost the cost of the opportunity you choose The next best alternative you did not select when making a decision The list of trade -offs or alternatives which you consider when making a decision

Solution

Answer

Explanation