how would you define the term opportunity cost? Provide an example of opportunity cost decision that...

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how would you define the term opportunity cost? Provide an example of opportunity cost decision that...

how would you define the term opportunity cost? Provide an example of opportunity cost decision that you have had to make?

business accounting

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Answer 1

Answer #1

Opportunity cost :-

Opportunity cost is the economic benefit foregone due to selecting an alternative.

Example :-

A fresh graduate can join a from for $100,000 per year with additional allowances or $120,000 with no allowances. He selected the first option. The opportunity cost from him is $120,000

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Answer 2

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