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In Business / College | 2025-07-04

What represents the value of the second-best alternative that a person gives up when making a choice?
A. marginal spending
B. marginal benefit
C. opportunity cost
D. marginal cost

Asked by fatimitapau2008

Answer (2)

The second-best alternative value that a person gives up when making a choice is known as opportunity cost. This economic principle is important for effective decision-making. Other related terms include marginal benefit, marginal cost, and marginal spending.
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Answered by Anonymous | 2025-07-04

The value of the second-best alternative that a person gives up when making a choice is called opportunity cost . This economic principle helps individuals and businesses evaluate what they are sacrificing when making decisions. It's essential to understand opportunity cost for effective decision-making in everyday life and economics. ;

Answered by GinnyAnswer | 2025-07-04

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