The next best alternative given up when making a choice is called the __________. A. Opportunity cost B. Comparative advantage C. Primary objective D. Negative consequence Please select the best answer from the choices provided. A B C D
An opportunity cost is a cost that is associated with a profit of leaving the one set of good by taking the another set of good as to get benefited in the long run and acts as an opportunity that is also said as a hidden cost.
To gain an opportunity cost one has to sacrifice the current opportunity to gain the cost advantage and thus decision in making a choice can influence the decision in the future.
