What is opportunity cost?

Yeah, option C is correct.

Opputunity cost is the forgoing of the next best alternative.

An opportunity cost refers to a benefit that a person could have received, but gave up, to take another course of action.

a benefit foregone by choosing one opportunity instead of next best alternative.

c.the forgoing of the next best alternative

The correct option is <<<<<<< (C)

c is the correct answer. The forgoing of the next best alternative.

Cost of next best alternative forgone.

an opportunity cost is the cost of a forgone option.

If the production possibilities frontier is not bowed out but is a line, indicates there is If the production possibilities frontier is not bowed out but is a line, indicates there is" A) Scarcity b) Constant opportunity cost c) Unemployment d) Increasing Opportunity Cost

The cost which is not real it is notional cost incurred due to we lost one opportunity due to another example if we invest funds in our inventories then we will not able to invest in any other way like Fixed Deposit and that Interest of Fixed Deposit is Opportunity cost for investing in inventories.