Asked by
Stefanie magno
on Dec 12, 2024
Verified
The opportunity cost of an action is
A) objective and will be the same for all individuals.
B) a measure of the undesirable aspects involved in the action.
C) applicable only to choices involving material goods like commodities.
D) the highest valued alternative forgone as the result of choosing an option.
Opportunity Cost
The value of the next best alternative forgone as the result of making a decision.
- Grasp the concept of opportunity cost in decision-making processes.
Verified Answer
EG
Learning Objectives
- Grasp the concept of opportunity cost in decision-making processes.
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