Question

Which among the following represent the potential benefits an individual, investor, or business misses out on when choosing one alternative over another?

A Sunk Cost Correct Answer Incorrect Answer
B Relevant Cost Correct Answer Incorrect Answer
C Irrelevant Cost Correct Answer Incorrect Answer
D Variable Cost Correct Answer Incorrect Answer
E Opportunity Cost Correct Answer Incorrect Answer

Solution

Opportunity Cost represent the potential benefits an individual, investor, or business misses out on when choosing one alternative over another.

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