The opportunity cost of an activity is

Question

Group of answer choices

zero if you choose the activity voluntarily

the amount of money spent on the activity

the value of the best alternative not chosen

the sum of benefits from all of the sacrificed alternatives

Answer 1

The opportunity cost of an activity is the value of the best alternative not chosen.

This concept reflects the idea that when you make a choice, you are essentially giving up the benefits that you could have received from the next best alternative.