oint) Which of the following expressions best states the idea of opportunity cost? “A penny saved is a penny earned” “He who hesitates is lost” “There is no such thing as a free lunch” “All that glitters is not gold” “Watch the pennies and the pounds will look after themselves” Previous Page Next Page Page 11 of 25
Correct option is (3).
Opportunity cost is the benefit given up by choosing one
alternative over another, which means that to get a “lunch”,
something of value to the decision-maker must be given up.