Question

The highest valued alternative that must be given up to engage in an activity is the definition of

a. economic equity.
b. marginal benefit.
c. opportunity cost.
d. marginal cost.

Answer 1

I believe the answer is c. opportunity cost.

For example, you are a student which also held a job a programmer for a small startup, and your average GPA tends to be low because you don't have enough time to study properly for the exam.
In this situation, the time that you sacrifice for studying in order to contribute to your programming job is considered as an opportunity cost.