Opportunity cost is best defined as?
Question
Opportunity cost is best defined as?Options
A)
the penalty for not seizing golden opportunities
B)
sacrificed alternative (output, income etc.)
C)
the cost of creating job opportunities
D)
payment made to an industrial worker
E)
the difference between fixed and variable costs
Related Lesson: Identifying Opportunity Cost | Choice in a World of Scarcity
The correct answer is B.
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