The cost of producing a good which is measured by the worth of the most valuable alternative that was given up to obtain resources is called cost.

explicit

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accounting

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opportunity

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fixed

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Solution

The correct option is C opportunity
Opportunity cost refers to the cost of the best alternative that is foregone.

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Similar questions

The cost of producing a good is measured by the worth of the most valuable alternative that was given up to obtain the resource. This is called the ___ cost

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The cost of producing a good which is measured by the worth of the most valuable alternative that was given up to obtain resources is called cost.

The correct option is C opportunityOpportunity cost refers to the cost of the best alternative that is foregone.

The correct option is C opportunity
Opportunity cost refers to the cost of the best alternative that is foregone.