Question

opportunity cost exercise 1
the opportunity cost of an action is always equal to

the things you could have done instead of the action you chose to undertake.

the time you give up to undertake the action.

the money you give up to undertake the action.

the next - best alternative for the resources used to undertake the action.

Explanation:

Opportunity cost is defined as the value of the highest-valued alternative that is forgone when making a choice, meaning it specifically refers to the next-best alternative use of resources, not all possible alternatives, just time, or just money.

Answer:

the next-best alternative for the resources used to undertake the action.