Which statement about opportunity cost is true?

A. It is the least desirable alternative given up as the result of a decision.

B. When making a decision, every trade-off is an opportunity cost.

C. Every decision has at least two opportunity costs.

D. Every ordinary decision we make involves an opportunity cost.

Question

Business

Lizbeth Weaver

3 March, 19:25

Which statement about opportunity cost is true?

A. It is the least desirable alternative given up as the result of a decision.

B. When making a decision, every trade-off is an opportunity cost.

C. Every decision has at least two opportunity costs.

D. Every ordinary decision we make involves an opportunity cost.

+5

Answers (1)

Know the Answer?

Velazquez · Answer 1

An opportunity cost is defined as what someone gives up to receive the potential benefits from the purchase of one more unit of something else. Given the choices above, every ordinary decision we make involves an opportunity cost, is correct. Whenever someone has to make a decision, something is always given up in order to make the final decision.