Opportunity cost is best defined as:
A. Marginal cost minus marginal benefit
B. The time spent on an economic activity
C. The value of the best forgone alternative
D. The money cost of an economic decision
Answer:C
Opportunity cost is best defined as:
A. Marginal cost minus marginal benefit B. The time spent on an economic activity C. The value of the best forgone alternative D. The money cost of an economic decision