The value of the next-best forgone alternative is the cost.

Posted By Admin @ September 03, 2022


The value of the next-best forgone alternative is the:.


The value of the next-best alternative that was foregone in making a decision is known as the Opportunity Cost.

What is Opportunity cost?

  • It represents the cost of picking one alternative over another.
  • It is the value of the payoff of the next best decision to the one you chose.

In conclusion, opportunity costs represents the value of the alternative that you would have picked if you had not chose the alternative you went with.

Find out more on opportunity cost at

Similar Questions

  1. Which quote best represents a person performing a cost-benefit analysis
  2. Which best describes how specialized producers decrease their opportunity costs
  3. Which situation best illustrates an example of an opportunity cost
  4. Which best describes the purpose of using cost benefit analysis
  5. What is the best approximation of the value of a
  6. Which scenario is the best example of an opportunity cost
  7. Fixed costs that do not differ between two alternatives are
  8. Which situation best illustrates the economic concept of opportunity cost
  9. A reference value involves comparing the costs and benefits of
  10. A truck costs 35000 with a residual value of 2000
  11. How to calculate lower of cost or net realizable value
  12. Which statement is the best description of a value proposition
  13. According to new jersey transit the 8 am weekday train
  14. What is your iq if you have a 4.0 gpa
  15. What is half of 7 8 on a tape measure
  16. All cardiovascular diseases are caused by poor lifestyle choices brainly
  17. How many teaspoons in an 1 8 of a cup
  18. Which statement best summarizes the central idea of this paragraph
  19. A computer disk drive is turned on starting from rest
  20. Cobalt iron and nickel are the only elements that are
  21. Why is leonardo da vinci known as the renaissance man
  22. Which practice reduces the risk of a dangerous boating emergency
  23. What is the greatest common factor of 13 and 65
  24. Which of the following are parts of the opsec process
  25. What is the greatest common factor of 12 and 54
  26. What is particularly unique about the united states middle class
  27. Which of the following statements regarding atp production is false
  28. Be the change you want to see in the world
  29. Why is maintaining homeostasis particularly important to single celled organisms
  30. How can an operation prevent cross-contamination in self service areas
  31. The slope of a straight line can be determined by
  32. Which of the following statements about the cytoskeleton is correct
  33. How was the first industrial revolution different from the second
  34. A fixed ratio schedule of reinforcement is one in which
  35. How did ida tarbell help end the standard oil monopoly
  36. An effectively distributed résumé will help you get an interview.
  37. The statement of cash flows explains changes in a firm's
  38. Select the statement that best describes a feature of dsnps
  39. How did the little rock nine change the united states
  40. Which process is necessary for the formation of igneous rocks
  41. Driving cars lowers the ph of the oceans by _______.
  42. A blank agrees to help an immigrant become a citizen
  43. How to find the energy of a photon with wavelength
  44. Select the most appropriate statement for the graph shown below
  45. How many cups in a 5 pound bag of flour
  46. What is the least common factor of 8 and 12
  47. What is the difference between positive reinforcement and negative reinforcement
  48. Which characteristic would exclude an animal from being an amphibian
  49. How to find volume of a unit cell given density
  50. Vehicles are expected to be moving at around on highways
  51. The limbic system is a group of structures involved in
  52. What was one major weakness of the articles of confederation
  53. Which set of ordered pairs does not represent a function
  54. The atomic mass listed in the periodic table is the
  55. How do you say have a nice day in spanish
  56. An ion of k has the same electron configuration as
  57. The sixth and final step in the accounting cycle involves
  58. Which of the following is not a chemical buffer system
  59. Which type of audience appeal evokes feelings within the audience
  60. What is the ultimate fate of an isolated white dwarf
  61. Which of the following is a nucleotide found in dna
  62. Classify each of the following changes as physical or chemical.
  63. Approximately what percentage of texans do not have health insurance
  64. Which has the higher frequency red light or blue light
  65. Our electoral and institutional rules are set up for a
  66. Which resource do coal-fired power plants require to generate electricity
  67. Which of the following statements about global warming is true
  68. How much blood is in the human body in quarts
  69. Find the distance from the point to the given plane
  70. How to find the missing side length of a triangle
  71. Which best defines partial pressure in a mixture of gases
  72. The reaction of 1 mole of sulfur dioxide with oxygen
  73. Which best describes the taking on of american popular beliefs
  74. Unit 6 exponents and exponential functions homework 7 answer key
  75. Gina wilson all things algebra 2014 unit 4 answer key

What effect did the mayflower compact have on american government

It contributed to the development of representative democracy. The Mayflower Compact was created by the Pilgrims while they were establishing their new settlement of Plymouth. …

Define a constructor as indicated. sample output for below program

A constructor is a block of code that is called and executed each time an object is created.The constructor in Java is as follows:public CarRecord(){ …

Providing training for unemployed individuals is primarily intended to reduce

Answer: Frictional unemployment Explanation: The frictional unemployment is one of the type unemployment in which the employee or any worker are searching for the job …

Which is the graph of linear inequality 6x 2y 10

we haveIsolate the variable ySubtract both sidesDivide by both sidesThe equation of the line of this inequality isThe slope is negative and is equal to …

What independent record label produced the sound called southern soul

I believe the answer is: StaxStax was an american record label originated from Memphis, Tennessee. Their genre of music is focused on Soul, Gospel, Blues, …

Because time is of the essence volunteers should be interviewed

Answer: Option DExplanation: As time is a very important resource for every organisation and is considered as the essence of success, business organisations should manage …

Recording revenue before it is collected is an example of

Answer:An Accrued Receivable transactionExplanation:Before the receipt of cash recording a revenue is the example of accrued receivable because product is sold or services are already …

Which statement best describes the variables in a controlled experiment

Answer is: A. The independent variable is changed to see its effect on the dependent variable while all other conditions are unchanged.The two main variables …

Compared to ultraviolet waves the frequency of infrared waves is

Answer:The Correct Answer is AExplanation:Infrared wavesInfrared waves are the Infrared radiation is what we like to describe as a heat.We can not see the Infrared …

Before you decide whether to use the cost plus model

The correct answer is B. your industry's going rate.100% positive just took the test and got it correct

What did the electrician say to his daughter at 2am

Answer:Check Below!!Step-by-step explanation:This is basically a cool joke.When we are talking about electricians, we think aboutwires, ohms, resistors, insulator, conductor etc.Since electrician will say something …

Is a chloroplast found in a plant or animal cell

Animal cells do not contain chloroplasts because they do photosynthesize. CHLOROPLAST:Chloroplast is a membrane-bound organelle found in certain eukaryotic cells that have the ability to …

Why was freedom of religion added to the first amendment

Answer: The colonists suffered unfair treatment for their religious beliefs in the past.Explanation: The first Ammendment added freedom of religion to the constitution in order …

Which sentence most accurately describes elections in the united states

In major elections, ballots are typically counted by voting machines.The election process in United nation, which is commonly referred to as "first-past-the-post," is more appropriately …