Economics · Basic Microeconomics Concepts

Opportunity cost is defined as the:

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1variable cost of production.
2total direct cost of cultivation.
3cost of the next best alternative foregone.✓
4cost incurred in running a supplementary enterprise.

Correct answer

cost of the next best alternative foregone.

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Opportunity cost is defined as the:

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