154k views
2 votes
What represents the value of the second-best alternative that a person gives up when making a choice?

A marginal spending
B. marginal benefit
Ос.
opportunity cost
D. marginal cost

User JuicyFruit
by
5.8k points

1 Answer

2 votes

Answer:

c. opportunity cost

Step-by-step explanation:

Opportunity cost defines that these costs are those costs which provide benefits from the alternatives available. The best is acknowledged and the worst is rejected. The chosen alternative should only be made of the alternatives available.

According to the given situation, the correct option is Opportunity costs as it gives second best alternative when a person gives up when doing selection.

User Matt Hinze
by
5.0k points