select the correct answer.\nwhat represents the value of the second - best alternative that a person gives…

select the correct answer.\nwhat represents the value of the second - best alternative that a person gives up when making a choice?\na. marginal spending\nb. marginal benefit\nc. opportunity cost\nd. marginal cost

select the correct answer.\nwhat represents the value of the second - best alternative that a person gives up when making a choice?\na. marginal spending\nb. marginal benefit\nc. opportunity cost\nd. marginal cost

Answer

Answer:

C. opportunity cost

Brief Explanations:

Opportunity cost is the value of the next - best alternative forgone when a decision is made. It represents what is given up in choosing one option over another. Marginal spending refers to additional spending, marginal benefit is the additional benefit from an extra unit, and marginal cost is the additional cost of an extra unit.