A person has ₹500 and buys a book instead of a shirt. The opportunity cost is:

Type: MCQ • Marks: 1

A. Zero

B. ₹500 in every case

C. The price of the book only

D. The value of the best alternative represented by the shirt

Explanation

Explanation: The forgone benefit from the next best alternative is the opportunity cost.

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Class 9th Understanding Society India and Beyond, Part I

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