An opportunity cost is ___________.

The Advantage Foregone

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

The Cost

No worries! We‘ve got your back. Try BYJU‘S free classes today!

The Income

No worries! We‘ve got your back. Try BYJU‘S free classes today!

None of the Above

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is B The Advantage Foregone
Opportunity cost refers to a benefit that a person could have received but gave up to take another course of action. It is the cost most relevant for two mutually exclusive events.

Suggest Corrections

Similar questions

Explain the concept of marginal opportunity cost using a numerical example.

Join BYJU'S Learning Program