205k views
1 vote
Which best describes an opportunity cost?​

User Mfralou
by
7.3k points

1 Answer

3 votes

Answer:

When an option is chosen from alternatives, the opportunity cost is the "cost" incurred by not enjoying the benefit associated with the best alternative choice. The New Oxford American Dictionary defines it as "the loss of potential gain from other alternatives when one alternative is chosen."

Step-by-step explanation:

User Stephen Reindl
by
7.3k points

No related questions found

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Categories