Question

An opportunity cost is​ ________. A. the benefit gained by choosing a certain course of action B. costs that have been incurred in the past C. the cost incurred to gain the opportunity to make a sale D. the benefit given up by choosing an alternative course of action

Answer 1

Answer: Option (D)

Explanation:

Opportunity costs are known to present the benefits that an individual misses while they opt for an alternative over the another one. When an individual chooses an option from the alternatives, then the opportunity cost is referred to as the cost that has incurred by not appreciating the benefit which are confederated with the known alternative choice.