A. The cost of the alternative that has to be sacrificed for it B. The alternative cost involved when the opportunity of buying the commodity is mixed C. Its market price D. The alternative that has to be forgone in order to purchase it
Correct Answer: D
Explanation
Opportunity cost is the cost measured in terms of another commodity not in monetary terms. It is defined as the best alternative forgone after the most pressing need has been met e.g. when there is a need to buy commodity \(A\) and commodity \(B\), if \(A\) is bought, \(B\) is the opportunity cost not the price or cost of \(B\) or that of \(A\)
