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Opportunity cost is
when faced with several options.
the loss experienced from an option not chosen
O the best and cheapest option
O comparing the benefit of each option
evaluating the price one pays for each option

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ogorwyne

Opportunity cost is when faced with several options: the loss experienced from an option not chosen

What is meant by opportunity cost?

This is the term that is used to refer to the forgone benefit. The opportunity cost of an item is the benefit that they would have gotten from the item which they would now have to lose because they chose to go with an alternative option.

Hence we can conclude that the Opportunity cost is when faced with several options: the loss experienced from an option not chosen

Read more on opportunity cost here:

https://brainly.com/question/1549591

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