Post Utme Delsu 2024 Economics Question 18

Practice objective / multiple choice question 18 from the 2024 Post Utme Delsu Economics examination.

Post Utme Delsu 2024 Economics Objective / Multiple Choice

Question 18 POST_UTME_DELSU • 2024 • ECONOMICS • objective

The opportunity \cost of a choice is the value of the next best alternative that is given up as a result of making that choice. Which of the following is a correct statement about opportunity \cost?

Correct Answer A. Opportunity \cost is the value of the next best alternative that is given up as a result of making a choice.

B. Opportunity \cost is the value of the next best alternative that is gained as a result of making a choice.

C. Opportunity \cost is the value of the next best alternative that is irrelevant to the choice made.

D. Opportunity \cost is the value of the next best alternative that is unknown to the decision-maker.

Correct Answer

Correct Option:

Opportunity \cost is the value of the next best alternative that is given up as a result of making a choice.

This is Post Utme Delsu 2024 Economics Question 18. It is one of the objective questions from the 2024 Post Utme Delsu Economics examination.

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