which best describes an opportunity cost?\naccepting an opportunity to do something else when making an…

which best describes an opportunity cost?\naccepting an opportunity to do something else when making an economic decision\ngiving up an opportunity to do something else when making an economic decision\naccepting an opportunity to help accomplish something else when making an economic decision\ngiving up an opportunity to increase prices when making an economic decision

which best describes an opportunity cost?\naccepting an opportunity to do something else when making an economic decision\ngiving up an opportunity to do something else when making an economic decision\naccepting an opportunity to help accomplish something else when making an economic decision\ngiving up an opportunity to increase prices when making an economic decision

Answer

Brief Explanations:

Opportunity cost is defined as the value of the next - best alternative that is forgone when a decision is made. It is about giving up an opportunity, not accepting one. Also, it is not specifically about increasing prices.

Answer:

giving up an opportunity to do something else when making an economic decision