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Question
when we need to make a choice about limited resources: the opportunity cost of one’s decision should be maximized. the best choice depends upon what we need to give up. the impacts of our choices can always be quantified in dollars. we can base our choices on others’ actions.
Opportunity cost is what is given up when making a choice. When resources are limited, the best choice is related to what must be sacrificed. It's not about maximizing opportunity - cost. Also, not all impacts can be quantified in dollars, and choices are mainly based on personal or organizational needs rather than others' actions.
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the best choice depends upon what we need to give up.